Welcome to Bitcoin analysis in July. Will history repeat itself? Don’t be surprised that I asked this question. Bitcoin as the leader of cryptocurrencies is in an upward cycle. Surveys show that the price of Bitcoin has increased in most of the years in July.
With the price of Bitcoin fixed at 30500, experts believe that the upward rally of Bitcoin is not over yet. According to Marcus Tien, researcher and research expert of Matrixport Company, more profits are coming for Bitcoin in 2023. According to the company’s research, Thielen’s words have been true so far. In December 2022, the Matrixport team predicted that, based on the Bitcoin inflation model, the price of this digital currency could reach $29,000 by 2023.
At the time, Bitcoin was trading at $16,200 and this forecast indicated an 80% upside potential for the cryptocurrency. In February 2023, Matrixport raised its price target, suggesting that Bitcoin could reach $45,000 by the end of the year – with an 83% chance of success.
Analysis of Bitcoin in July 2023, in general, strong support can be considered for Bitcoin, if we go back to the price records of Bitcoin in the previous 10 years, this month is considered a powerful month for Bitcoin. and if the history of Bitcoin repeats itself, this will not be far from the mind.
It goes without saying that the growth rate of Bitcoin in the previous three years has been higher, which was reported as 24, 20 and 27% in 2020, 2021, 2022, respectively. The analysis of Bitcoin in July is actually equal to repeating the history of Bitcoin. It can be.
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