Bitcoin is likely to stop, but the highest levels of July are still possible star-news.press/wp

Bitcoin can be in a brief unification stage after increasing its last number to the highest level ever-but another leg before the end of July is not outside the table, according to the head of the Galaxy Digital Trade, Michael Harvey.

“Monotheism around the current prices is my basic issue, given the big gathering and the new ATH,” Harvey told Cointelegraph.

Bitcoin “Trends” will be at the end of 2025

“I expect BTC to go up to the end of the year, but stopping here will be realistic,” Harvey said, adding:

“I think BTC’s best price at the end of the month is a slow melting.”

He explained that reaching its highest new levels by the end of this month is the best scenario of cases and requires continuous strong flows in the funds circulating in the immediate sales (BTC), the continuous accumulation by Bitcoin Treasury companies, and an aggressive increase in the demand for retail.

Although the Instant Bitcoin Investment Funds have been publishing strong flows recently, the demand for treasury companies in Bitcoin continues, there is still a discussion inside the industry on whether the retail demand has arrived yet.

Coinbase recently jumped to 137 on the Apple App Store in the United States, an optimistic sign that retail sale may be captured. However, the decrease in the number of Google searches for “Bitcoin” indicates that the broader demand has not started.

Bitcoin reached the highest new level ever at $ 122,884 on Monday, before recovering to $ 118,098 at publication time, According to Two Nansen data.

The Bitcoin bear issue is less than $ 110,000

However, Harvey also set a scenario of the worst bitcoin case in the short term, where the price can decrease to less than $ 110,000.

He said: “The bear issue is a step on the risks driven by taking profits and/or weak stock market, which I think may see BTC to restore 5-10 %.”

Related to: Bitcoin lower support re -focus on traders to XLM, LTC, etc., BNB

Before Bitcoin crashed the highest level in May 112,000 dollars on July 9, a Crypto Rekt Capital analyst warned that the current session may have only a few months of expansion of prices, especially if it follows the same historical style of 2020.

Rekt explained that if the Bitcoin 2020 course follows, it is likely that the market will reach its climax in October, after 550 days of the half of Bitcoin in April 2024.

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