Bitcoin, which fell to the $59,000 level last week but started July with a rise exceeding $63,000, is expected to rise this month. Analysts at Coinbase exchange and Singaporean crypto investment firm QCP Capital emphasized the general Bitcoin rise in July in their latest reports.

In their report on Monday, QCP analysts explained their bullish expectations in Bitcoin as follows:

“When we look periodically, Bitcoin provides an average return of 9.6% in July. Usually this relief and upward movement comes after a negative June. On the other hand, Bitcoin futures also closed bullish last Friday.”

Coinbase analysts: Markets cleared of redundancies

David Duong and David Han, analysts at Coinbase, the largest cryptocurrency exchange in the US, also pointed to similar historical statistics:

“Positive sentiment and increased liquidity will support the markets. Both Bitcoin and Ether generally perform well in July. Especially after the big sell-off in June… The current market formation looks strong. Mt. Gox announcement, it seems that the excess in the market has also been cleared. Spot and futures Bitcoin and Ether volumes, which dropped from $90 billion to $75 billion in May and June, will also increase.”

As it will be remembered, JPMorgan analysts stated in their analysis last week that Mt. They stated that they thought that the fact that Mt. Gox would start distributions would be reflected in the crypto markets as selling pressure.