Bitcoin's blues could linger throughout July, but investors are still optimistic about the cryptocurrency in the second half of the year. The cryptocurrency has yet to break out of the tight range it's been stuck in – between $60,000 and $70,000 – since March. This week it fell to the lower end of that range and is now on pace to finish June down 10%, according to Coin Metrics. That would make it its worst month since April and second down month in three.
"A similar downside risk looms in July with Mt. Gox creditors," he added. "Assuming most of the liquidations by take place in July, this creates a trajectory where crypto prices come under further pressure in July, but start rebounding from August onwards." BTC.
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