June has historically been a challenging month for Bitcoin (BTC), and this year is no exception. Last year, Bitcoin experienced a nearly 24% drop in the past five hours, continuing the trend of poor performance this month.
Data from CoinGlass shows that since 2013, June, August, and September are the only months that consistently fail to provide positive returns. In fact, June usually carries an average loss of 0.19%.
This year, Bitcoin has had four winning and two losing months, with June showing a ratio of 6:12. However, historically, July tends to be more positive for Bitcoin. Since 2013, July has a winning ratio of 7:11, with significant gains recorded in 2020 when Bitcoin surged by 24% in just that month.
On average, July has observed gains of around 7.98% to 9.6%. If these trends persist, Bitcoin may experience a jump of nearly 10% to 25% next month. Analyst Credible Crypto even predicts a surge that could push Bitcoin to $100,000, while other experts foresee targets between $72,000 and $83,000.
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However, investors should exercise caution. The cryptocurrency market is notoriously volatile, and past trends do not guarantee future results. Having a clear strategy for when to enter and exit the market can help manage risks and maximize potential profits.
At the time of writing, Bitcoin is trading at just over $61,000.