As tradition guides us in the financial world, history often sheds light on what might be forthcoming. In this context, July has consistently proven to be a favorable juncture for the titans of the cryptocurrency market, Bitcoin and Ethereum. As we gingerly step into July, market experts are observing with keen interest, the patterns of the past, hoping for another lucrative period in the digital currency realm.

Time-honored market pundits from QCP Capital have deduced that over the years, Bitcoin has shown a median yield of 9.6% in July, bearing a consistent pattern of recuperating substantially after a rather lethargic performance in June. This year, following a dip of roughly 10% in its June performance, Bitcoin is set to possibly see an uplift this July, guided by these historical pointers.

Adding more colors of positivity to this promising picture, David Duong and David Han, two-discerning analysts from Coinbase, have affirmed this trend. They reckon that the expected bonanza of liquidity in July could provide an additional springboard to the market.

June’s downturns have purged the financial market of excess, potentially smoothing the path ahead for more secure and optimistic price shifts. Furthermore, Bitcoin and Ethereum’s trading volumes, which include spot and futures transactions on global exchanges, dwindled from $90 billion in May to $75 billion in June. Market watchers perceive this constriction in trade volumes as laying a sturdier groundwork for the next surge of market activity.

The favorable July seasonality has not been exclusive to leading cryptocurrencies but is also buttressed by broader market dynamics. Analysts including the likes of Ali underscore that recovery patterns ensuing June’s lapses historically denote a “vigorous bounce back” in July performances.

This observation holds notably true for Bitcoin, which has consistently delivered an average return of approximately 8% during this period.

The recent technical analysis of Bitcoin’s price fluctuations also provides credence to the hypothesis for a bullish July. Bitcoin noted a significant upsurge of 2.7% in just the past 24 hours. Now trading at $63,104, Bitcoin has started the month on a strong note. This recent rise has nudged its weekly gains also to 2.7%, echoing an uptick in investor confidence.

However, predictions are not without their hurdles. Factors including macroeconomic influences and regulatory advancements could still steer cryptocurrency prices in a direction contrary to expectations. And while analysts maintain an optimistic outlook based on statistical and historical evidence, the characteristic volatility of the cryptocurrency markets implies that significant deviations from past trends can still transpire.

Bullish July is a serendipitous term prevalent in the cryptocurrency domain. It seems that July has often been noted to usher in significant price surges for tokens such as Bitcoin and Shiba Inu, making it a “lucky” month for crypto tokens to document new highs. The phenomenon as mentioned earlier might be a random fluke, but it has now transformed into an event that investors often watch.

With the onset of July, here are the top three trending token recommendations that one should stash to earn stellar gains soon.

Also Read: Cryptocurrency: 3 Coins To Majorly Rebound This July

Bullish July Meme Coins to Stack for Robust Profits

Cryptocurrency#1- Bonk

The Solana-based crypto coin BONK is now surging at an impeccable price pace, rising and peaking by 10% in the last 24 hours. According to CoinMarketCap, BONK is currently trading at $0.00002602, with prospects hinting at the token’s future price hike.

The dog-themed token was launched in 2022 and since then has grown exponentially, gaining nearly 23,674% in valuation. CoinCodex, a notable crypto analytics platform, predicts that the token may spike even more, surging to trade at levels behind 200%.

“The price of Bonk may rise by 227.72% and reach $0.00008520 by August 1, 2024. Per our technical indicators, the current sentiment is bullish, while the Fear & Greed Index is showing 51 (neutral). Bonk recorded 15/30 (50%) green days with 16.81% price volatility over the last 30 days.”

The platform further states the bonk is emanating a bullish sentiment, making it a lucrative coin to hold and stash for future gains.

TL;DR

BTC is Yet to Make the Headlines?

Despite the downfall in the past month, 2024 has so far been quite successful for the primary cryptocurrency, whose price hit an all-time high of over $73,000 in mid-March. Some analysts and prominent figures believe the asset might reach new impressive peaks before the end of 2024, with Tom Lee being one example.

The American entrepreneur reiterated his prediction that BTC could rally to $150,000 in the following months. Lee claimed that the asset’s valuation has been negatively affected lately due to the issues related to the now-defunct crypto exchange Mt. Gox.

The once-leading platform suspended operations a decade ago and filed for bankruptcy protection. It also lost approximately 850,000 BTC due to hacking and alleged mismanagement. Most recently, the court-appointed trustee overseeing the exchange’s bankruptcy proceedings announced that the company will begin paying back thousands of users almost $9 billion worth in assets.

“Bitcoin’s probably been suffering from the Mt. Gox which was a huge overhang for many years. But if I was investing in crypto and knowing that one of the biggest overhangs is going to disappear in July, I think it’s a reason to expect a pretty sharp rebound in the second half. So, I think $150K is still within,” Lee said.

It is worth mentioning that the American has not always been spot-on with his crypto forecasts. At the end of 2020, hepredictedthat Bitcoin’s price could tap $120,000 in 2021. The asset experienced a substantial bull run that year but could not exceed the $70K level.Other Bets

Numerous cryptocurrency analysts touched upon BTC’s price lately, envisioning a rally if the asset surpasses certain resistance levels. The X user Jelle claimed that Bitcoin’s “local market structure continues to improve,“ adding that a sustained trading above $61,500 could lead to a “test of that $65,000 area.“

“Break that, and we’re off to the races,“ the analyst suggested.

Michael van de Poppe gave his two cents, too. He believes BTC could settle at the $61,000-$61,500 support zone and rise above $67K this month.

#Bitcoin is looking for a higher low and support. It seems very likely that we’ll be looking at the $61-61.5K area.

A slow grind upward is what I’m expecting for the markets in July. pic.twitter.com/LHnXTydh8P

— Michaël van de Poppe (@CryptoMichNL) July 2, 2024