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Celebrating Fourth of July: Bitcoin up 53% since 2022 U.S. Independence Day

Celebrating Fourth of July: Bitcoin up 53% since 2022 U.S. Independence Day

After Bitcoin (BTC) made a successful break of the psychologically important price level at $31,000, it is worth reflecting on its trends around the previous United States Independence Day, which indicate that the flagship decentralized finance (DeFi) asset has grown its value by half over the past year.

Indeed, on the last Fourth of July, Bitcoin was changing hands at $20,230, and today its price stands at $31,037, which means that the maiden cryptocurrency has gained 53.42% in its price since that time, according to the data retrieved by Finbold on July 4.

Bitcoin one-year price chart. Source: Finbold

As it happens, the latest price of Bitcoin indicates a 1.33% gain in the last 24 hours, an advance of 2.17% across the previous seven days, and a 14.04% increase on its monthly chart as it moves the general crypto market sentiment upwards.

What’s next for Bitcoin

For now, Bitcoin has started to consolidate its gains, as observed by crypto trading expert Michaël van de Poppe, who has also noted that Bitcoin needed to cross the $32,500 threshold for the actual bullish acceleration to happen, according to his tweet on July 4.

Bitcoin price action analysis. Source: Michaël van de Poppe

At the same time, pseudonymous crypto analyst Moustache, also known as el_crypto_prof, has argued that Bitcoin is facing its next major resistance at $60,000 and that “things are looking really good,” judging from a standpoint shared on July 3.

Earlier, the same expert observed several indicators, including the confirmation of the 2-week buy signal, successful retest from the breakout, and moving average convergence divergence (MACD) crossing above the ‘0’ level, all pointing at “a big move coming for BTC,” following a similar pattern from 2015, 2019, and 2020.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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