According to watcher.guru, here are 3 cryptocurrencies that could make a strong comeback this July.
3 Coins That Could Make a Strong Comeback in July
Bitcoin
June was a rather bleak month for Bitcoin, as the coin saw a significant drop in value, from $71,500 to below $60,000. Rumors on June 26 that Mt Gox would compensate investors in BTC also caused the cryptocurrency to experience major volatility.
However, in July, BTC is expected to see a major price recovery. July has historically been a bullish month for BTC, while June has always signaled new lows for BTC.
Bitcoin could rise another 33% this July, according to predictions from data analytics platform CoinCodex.
“Bitcoin price is predicted to increase by 33% by July 31, 2024. According to our technical indicators, the current sentiment is neutral, while the Fear & Greed Index is showing 53 (neutral). Bitcoin recorded 16/30 (53%) green days with a price movement of 4.87% over the past 30 days,” CoinCodex added.
Shiba Inu
The popular meme Shiba Inu is also seeing a sharp decline in price. The token has recorded a 30% drop in the past 1 month and is currently trading at $0.0000172. Historically, SHIB has hit a new high in July, making it a particularly lucrative month for SHIB in terms of valuation and price.
In addition, the popular cryptocurrency exchange Coinbase will also launch SHIB futures in July, which could help SHIB record a new high. At the same time, the blockchain version of Shiba Eternity will also help SHIB expand its growth momentum, opening up a major recovery for this token.
According to CoinCodex, the Shiba Inu price could surge as much as 68% on July 8, reaching a new high in the process.
“Shiba Inu price prediction for the next 30 days is a positive/negative trend based forecast. SHIB will be traded at $0.00002877 on July 8, 2024, increasing by 64.99% in the process.”
Cardano
ADA has been hovering in the lower price range of $0.30 to $0.48 for a long time. However, in a recent development, Cardano is also preparing to implement the long-awaited Changpeng Hard fork. The integration of the fork will bring governance options for ADA users to access and use. This major reset could play a major role in triggering the price of ADA, which could help the token reach new highs.
According to CoinCodex, ADA could peak and trade at $0.45 in July.
“Cardano price prediction for the next week ranges from $0.378931 at the low to $0.433745 at the high. Cardano price may increase by 14.47% and reach $0.433745 by July 15, 2024.
However, as the fork implementation begins, the price of ADA may change and may trade at a higher price than predicted by technical portals.
See also: Standard Chartered Bank predicts Bitcoin will hit $100,000 by November
