Bitcoin Price Prediction for July 2024
The price of Bitcoin has been on a steady upward trend for the past seven weeks, hovering around $70,000 on various cryptocurrency exchanges. Among the speculation surrounding Bitcoin’s price, Polymarket has posed the question, “What price will BTC reach in July?”
Bets and Market Trends
Betting on cryptocurrency prices has gained popularity, especially in the realm of political events like the upcoming November elections in the United States. Traders have placed bets on Bitcoin’s price for July, with a total of $1,167,176 in bets expiring on July 31, 2024. The majority of these bets are focused on Bitcoin hitting either $75,000 or $80,000.
Market Updates and Price Analysis
Following the Bitcoin 2024 conference in Nashville, Bitcoin saw a surge of over 3%. This boost came after former President Donald Trump expressed support for cryptocurrencies, instilling confidence in investors. The Fear and Greed Index for crypto also rose to 74 in the past 24 hours.
Traders are awaiting the outcome of their bets, with current data from Binance showing BTC trading at around $67,970. However, the coin recently hit highs of $69,932 and $69,907 on different platforms. If Bitcoin stabilizes at $70,000, traders are poised to capitalize on their profits on Polymarket.
Also Read: Is Ethereum on track to hit new highs following ETF inflows?
