Bitcoin Price Prediction As King Crypto Makes Virtually No Gains in July

Updated: 22 July 2023

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Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

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As July progresses, Bitcoin, the king of cryptocurrencies, has experienced minimal gains. There hasn’t been much price movement during this period, so traders and investors are speculating.

Bitcoin’s live price is $29,909, with a 24-hour trading volume of $9.931 billion, showing a slight increase of 0.38% in the past day. However, over the last seven days, BTC has experienced a decline of 1.47%, and its performance in the last month has also dipped by 0.61%.

As the top-ranked cryptocurrency with a market cap of $581.516 billion, while the market is relatively stagnant, analysts and enthusiasts watch it closely for potential breakout signals.

In an ever-evolving crypto landscape, uncertainty surrounding Bitcoin’s performance in July adds to the intrigue and anticipation.

Bitcoin (BTC) Statistics:

Coinmarketcap ranking – #1
Price now – $29,909
Market cap – $581.313 Billion
Circulating supply – 19.41 Million
Total supply – 19.41 Million
Maximum supply – 21 Million

Bitcoin Price Prediction As King Crypto Makes Virtually No Gains in July — Source: CoinMarketCap

Bitcoin Price Analysis: Potential Resistance and Support Levels

Looking at the daily chart, BTC might encounter resistance of around $30,563 if it moves closer to the higher end of its trading range. Buyers will likely step in when this happens, potentially driving Bitcoin’s value even higher.

The price of Bitcoin might drop quickly if it hits a support level of $29,387. The price could break above the upper boundary of its trading range if it doesn’t reach that level.

In a bullish scenario, Bitcoin may face resistance at $30,563 and $31,172. The price could find support at $29,740 and $29,387 if it falls below the trading range. The Relative Strength Index (RSI) crosses above 50, so there’s potential for more gains.

Global X’s Innovative Bitcoin ETF: Impact on Price

As part of its application for a Bitcoin exchange-traded fund, Global X ETFs has partnered with CoinDesk. Bitcoin’s price fluctuates wildly, and investors are eager to see where it’s going.

Global X ETFs offer the Global X Bitcoin Trend Strategy ETF. It uses the CoinDesk BTC Trend Indicator Index and BTC futures contracts to gauge Bitcoin’s price.

ETF analyst James Seyffart from Bloomberg says this application will likely be accepted since it’s not a spot Bitcoin ETF. He said the ETF will undergo the same approval process as others. The approval is almost certain, unless the SEC delists all previously approved Bitcoin futures ETFs.

BREAKING: BlackRock, Fidelity, Wisdomtree, VanEck, and Invesco spot #Bitcoin    ETF applications will be added to the federal register tomorrow. – Bloomberg ETF analyst James Seyffart

— Dr Robertlee 李波 (@Robertl83909710) July 18, 2023

Launching the ETF in October 2024 requires regulatory approval. The approval and launch of this Bitcoin ETF could affect Bitcoin’s price.

WSM: The Rising Star of Meme-coin World

Do you think Wall Street Memes is the best cryptocurrency to invest in now? The data from their presale page tells the story. WSM has gone from a newcomer to a powerful player in the meme-coin scene in a short time.

Their presale had two main goals: welcoming memecoin enthusiasts and giving investors an early edge. Despite the team’s expectations, the presale results were surprisingly good.

The platform has already attracted thousands of investors. During their presale, they raised $16.978 million. It’s even more impressive that their community has grown so quickly, with hundreds of thousands of fans on Twitter and elsewhere.

Announcing to the group chat that I'm not done with gambling after saying I was 24 hours earlier pic.twitter.com/BpJQBcbNtR

— Wall Street Memes (@wallstmemes) July 16, 2023

Wall Street Memes are proud to challenge Wall Street’s way of doing things. They aim to create a community of “degens” (passionate individuals) who can stand up to big investors. This is accomplished with a unique token priced at $0.0322.

The only catch is that it’ll probably go up to $0.0325 in less than a week. Many people think WSM is one of the best cryptocurrencies to buy now because of its growth and impact.

Smog (SMOG) - Meme Coin With Rewards

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