What to expect from Bitcoin in July?

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On Monday night, the bitcoin rate reached $ 35.9 thousand, after which it began to decline. Today, the price of the first cryptocurrency is $ 34.8 thousand, over the past day it has added 1.6%, writes RBC Crypto.

Bitcoin continues to maintain a downward trend, the next levels are $ 27 thousand and $ 23 thousand, believes the CEO of Xena Financial Systems Anton Kravchenko. According to him, the rate of decline has slowed down significantly and the market is waiting for a turning point, but it is not yet known at what level this will happen.

The opposite opinion is shared by the CEO of the Cryptorg cryptocurrency exchange, Andrey Podolyan, who does not expect an update of the local minimum for bitcoin. Podolyan believes that some large players have already accumulated sufficient volume to buy in the $ 30-33 thousand zone, and in July, with a breakdown of $ 36 thousand upwards, a powerful impulse movement should develop with the first target in the region of $ 40-41 thousand and the second target in the region of $ 45 -47 thous.

 

“At these levels, Bitcoin will slow down and there will probably be another attempt at a strong decline. Cancellation of the scenario for me will be the departure of BTC below $ 29 thousand, ”the expert warned.

 

Without the receipt of favorable signals, the crypto market will remain volatile, minor fluctuations are possible both up and down, added Artem Deev, head of the analytical department at AMarkets. According to him, one of the drivers for short-term growth from the current $ 34.5 thousand to $ 37-38 thousand may be information from reports on the US labor market or interest in cryptocurrency from large investors. They remain silent so far, assessing the risks of tightening legislation in developed countries (for example, states can follow the example of China), Deev said.

Summer is a period of low activity, so Vladimir Smetanin, director of the financial company Newcent, suggested that Bitcoin would remain in the $ 30-40 thousand corridor in July, since all the positive and negative news had already won back.

Previously, the analytical service Santiment reported that the volume of bitcoins on crypto exchanges fell to a six-month low. Analysts believe this should be viewed as a “promising sign” that indicates a lower risk of larger cryptocurrency sales.

Usually, a decrease in Bitcoin stocks on crypto exchanges indicates the accumulation of digital coins by large holders (the so-called “whales”). In June, Santiment analysts reported that the whales continue to buy cryptocurrency.

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