### Bitcoin Price Forecast for July 2024
**Bitcoin** is anticipated to see a price recovery in July 2024, based on historical trends and recent analyses. Noted cryptocurrency analyst Ali Martinez has shared a positive outlook for Bitcoin in the upcoming month. Martinez pointed out that when Bitcoin experiences a downturn in June, it typically rebounds strongly in July.
In June, Bitcoin’s price was notably impacted by several developments within the **cryptocurrency market**, resulting in significant drops, with the price dipping to around $60,000 this week.
On June 30, Martinez published an analysis suggesting a substantial price rally for Bitcoin in July, predicting a significant market recovery. “Historically, when Bitcoin has a negative June, it tends to recover strongly in July. In fact, $BTC has delivered an average return of 7.98% and a median return of 9.60% during this month,” Martinez stated.
Martinez’s chart indicates that in previous years, Bitcoin’s poor performance in June was often followed by a robust recovery in July. According to the data, Bitcoin’s price dropped by 9.85% this June. Consequently, Martinez forecasts a bullish trend for Bitcoin in July.
> Historically, when #Bitcoin has had a negative June, it tends to bounce back strongly in July. In fact, $BTC has shown an average return of 7.98% and a median return of 9.60% during this month.
> pic.twitter.com/fJaIwc7Eob
> — Ali (@ali_charts) June 30, 2024
At the time of publication, **Bitcoin’s price** was $61,439.60, reflecting a 0.7% increase over the past 24 hours.
### Additional Insights
– **SEC files lawsuit against Consensys targeting MetaMask and Staking services**
– **Number of new Bitcoin addresses peaks as retail investors return**
A significant development in the Bitcoin network was observed with the return of retail investors. On June 29, cryptocurrency analyst Ali Martinez noted a substantial increase in new BTC addresses, reaching 352,124—a peak not seen since April. “Bitcoin retail investors are back! The number of new $BTC addresses on the network increased to 352,124, marking the highest level since April,” Martinez commented.
### Disclaimer
The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing or trading in cryptocurrencies carries the risk of financial loss.
### Editor’s Choice
– **Bitcoin and Altcoins start another week with a sharp drop; BTC below $61,000**
– **Mt. Gox will distribute $9 billion in Bitcoin; Payments in BTC and BCH will start in July**
