20 July 2026
Bitcoin Scores Its Best Month Since October
The second quarter of the year 2022 was devastating for Bitcoin as it registered three consecutive months of massive declines. However, now the leading cryptocurrency has finally seen some rise in July, becoming its best month in 2022 to date.
Bitcoin overcame the $20,000 line and ended the month with a double-digit surge.
This year has been a challenging year, with the galloping inflation hurting economies, and the Russia-Ukraine war only exacerbated the mass pain. Global superpowers are also trying to battle inflation by increasing interest rates.
The volatile asset Bitcoin suffered badly. The Q2 recorded was BTC’s worst trading quarter in over a decade with a massive decline of over 55%. The price of bitcoin fell from $30,000 to a multi-year low of $17,500 in June.
As a result, everyone was hoping for July to reverse the trend. And it worked well. July witnessed volatility, especially when the US record-setting CPI numbers came out, the Fed increased the interest rates (again), and President Biden refused to admit that the country had entered into a recession.
Although, this time, Bitcoin reacted with positive price performance. Bitcoin value surged to a 6-week high above $24,500. Inspite of facing a minor fallback, it ended the month at $23,300 – 16.8% higher than the June closing price. Hence, became the best-performing month for BTC since last October.
According to Coinglass’ monthly data, August has been a bearish month. While October and November could turn out to be bullish months, and that’s why many crypto analysts predict that the end of this year could be significantly more bullish, and BTC could finally reverse its months-long bearish trend.
Disclaimer: The author’s thoughts and comments are solely for educational reasons and informative purposes only. They do not represent financial, investment, or other advice.
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