Bitcoin’s 40% rebound grew stronger in July

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Last Updated on 31 July 2022 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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On 10 June, when things were looking very grim, we reminded everyone that Bitcoin would soon start its best month. Now that we have arrived at the end of the month of July, the historical pattern has once again become true.

If we take the median of the past 11 years, we see that the seventh month of the year produces very healthy growth averaging 18%. In July 2020 Bitcoin was up 24%, in 2021 it delivered a very healthy return of 18%, in July 2022 we will more than likely end up with 20% growth.

Bitcoin’s growth over the last 30 days is the largest since October 2021.

The correlation between the US stock markets and the largest digital currencies, Bitcoin and Ethereum, is also increasing.

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Nasdaq 12%

The S&P finished off its best month in almost two years up 9.1% the Dow closed the month up 6.7% and the NASDAQ rose 12%. All three are still down for the year though.

Ethereum is also looking better and better and has come a long way since that important $1,000 support line. Earlier this week, $1,700 was tapped.

This is possibly related to the long-awaited and fast-approaching upgrade to the second largest cryptocurrency known as “the merge.” By September, Ethereum is expected to have moved over to a more energy efficient consensus mechanism called proof of stake.

Valentyn_Volkov / Depositphotos.com