History suggests Bitcoin poised for rebound in July
Bitcoin tends toward strong performance in July, but Mt. Gox is dampening optimism for a recovery.
Bitcoin may see a strong rebound in July following a lackluster performance in June, which saw Bitcoin falling almost 7% in the month.
The price of Bitcoin (BTC) historically averaged a slump of 0.35% in June, according to data from Coinglass, which tracks the monthly returns of Bitcoin beginning in 2013.
The data shows that in previous years, whenever June ended in a downtrend, the following month saw a roaring comeback, with Bitcoin gaining an average of 7.42% historically.
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Author: Tom Mitchelhill
