First Week In January Historically Good For Bitcoin

2021-12-29 23:48:46
Bitcoin In January

While the majority of the crypto community is still trying to figure how bitcoin will behave, especially after dropping below $48.000, one crypto analyst says that not all hope is lost. According to Alex Kruger, history clearly shows that bitcoin always performs well in the first week of January.

With a drop in price of 17.76% in December, it is safe to assume that bitcoin won’t finish the year in a strong manner.

However, as per the predictions of crypto-economist Alex Kruger, January still may turn out to be a strong month for the world’s most famous crypto asset.

Still expect a strong crypto up market in early Jan driven by fund inflows. Then risk-off ahead of the next FOMC (Jan/26) if the next inflation print comes in too hot (Jan/12).Alex Kruger | Crypto Analyst & Economist

Moreover, Kruger via Twitter further showed a rather interesting statistic that encapsulates how bitcoin behaves each first week in January, in the past 4 years.

And according to the results, each year bitcoin is noticing a substantial growth in the first week after the New Year.

2018 – 18%
2019 – 7%
2020 – 13%
2021 – 36%

While it is not 100% certain that bitcoin will repeat this success in the upcoming 2022, it is still a great indicator as to how the most valuable digital asset performs in the new year.

Positive Feedback

That is why the head of market insights at Genesis Trading, Noelle Acheson, said on CNBC that crypto investments will only grow in 2022.

In particular, that there are ‘strong signs’ that companies will further increase the volume of buying crypto in the upcoming 2022.

Moreover, Acheson further acknowledges that the past 12 months were simply ‘astonishing’ when it comes to institutional crypto investments.

And that it is due to this massive success, that she expects this trend to only increase in the new year.

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