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<p>The post <a href="https://coinpedia.org/news/heres-how-much-bitcoin-price-can-surge-in-july-top-analysts-weigh-in/">Here’s How Much Bitcoin Price Can Surge In July, Top Analysts Weigh In</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>In June, Bitcoin faced a substantial decline, <a href="https://coinpedia.org/news/why-is-bitcoin-price-continuing-to-fall-is-bear-taking-over-the-market/">dropping nearly 17%</a> in value. Alongside this plunge, the global crypto market also experienced a notable decrease, with its total capitalization falling by 10.27% from $2.53 trillion at the beginning of the month to $2.27 trillion by its end.</p> 
<p>However, as July began, Bitcoin started to show signs of recovery. The cryptocurrency has since surged by 4% within a day, currently trading at $63,360. Analysts in the crypto space are optimistic, predicting a potential further increase of 10% for Bitcoin in the coming days.</p> 
<h2 class="wp-block-heading" id="h-here-s-what-july-has-for-btc">Here’s What July Has for BTC</h2> 
<p>Renowned chart analyst Ali Martinez has highlighted trends, suggesting that Bitcoin’s recent price action aligns with historical patterns that could lead to a notable recovery. Historically, Bitcoin has shown resilience following a negative June, often bouncing back strongly in July.</p> 
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   <p lang="en" dir="ltr">Historically, when <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> has had a negative June, it tends to bounce back strongly in July. In fact, <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> has shown an average return of 7.98% and a median return of 9.60% during this month. <a href="https://t.co/fJaIwc7Eob">pic.twitter.com/fJaIwc7Eob</a></p>— Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1807326177910043012?ref_src=twsrc%5Etfw">June 30, 2024</a>
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<p>In June, Bitcoin’s price consolidated around $61,670 after experiencing a sharp decline to $58,759. This drop was primarily influenced by <a href="https://coinpedia.org/news/jpmorgan-predicts-potential-market-crash-from-mt-gox-creditor-sales/">Mt.gox repayment</a>, some macroeconomic factors, and a decrease in spot Bitcoin ETFs. Despite this downturn, the historical trend suggests that Bitcoin may be poised for a rebound.</p> 
<p>According to Martinez, Bitcoin has shown an average return of 7.98% and a median return of 9.60% during July in past years. This trend provides a hopeful outlook for investors looking for a recovery after a tough June.</p> 
<h2 class="wp-block-heading" id="h-bitcoin-to-break-out-soon-nbsp">Bitcoin To Break Out Soon&nbsp;</h2> 
<p>Echoing bullish sentiment, another prominent crypto trader Captain Faibik suggests that Bitcoin price is on the brink of a significant upside breakout from a Descending Broadening Wedge pattern. This technical pattern often indicates a potential upside breakout.&nbsp;</p> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> is on the Verge of Descending Broadening Wedge Upside Breakout..!!<br><br>A successful Breakout could Potentially send Bitcoin to $70,000.<a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> <a href="https://t.co/6L8WtdzsVe">pic.twitter.com/6L8WtdzsVe</a></p>— Captain Faibik (@CryptoFaibik) <a href="https://twitter.com/CryptoFaibik/status/1807618462296264772?ref_src=twsrc%5Etfw">July 1, 2024</a>
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<p>However, this pattern was observed on the 4hrs chart, indicating that the bitcoin price has fallen since last month.&nbsp;</p> 
<p>Furthermore, Faibik predicts that a successful breakout from this pattern could send Bitcoin soaring to $70,000, marking an approximate 10% increase. This optimistic outlook aligns with Ali Martinez’s analysis suggesting that after Bitcoin’s negative performance in June, its price tends to see a surge of around 9.60% in July.&nbsp;</p> 
<h3 class="wp-block-heading" id="h-what-to-expect-ahead"><strong>What to Expect Ahead?</strong></h3> 
<p>If Bitcoin follows its historical pattern, investors might see a significant price surge in July taking its price to nearly $70K.&nbsp;</p> 
<p>Currently, Bitcoin’s<a href="https://markets.coinpedia.org/bitcoin/"> price is trading at $63,360</a>, reflecting a surge of 4%. Apart from this 24 24-hour trading volume has seen a massive surge and hovering at $21.18 billion, with a market cap of $1.24 trillion.&nbsp;</p>

Here’s How Much Bitcoin Price Can Surge In July, Top Analysts Weigh In

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