Bitcoin
BTC$44 191.65

2.28%

Ethereum
ETH$2 384.27

1.22%

Tether
USDT$1.000286

0.02%

XRP
XRP$0.691977

7.73%

Binance Coin
BNB$244.21

4.75%

Solana
SOL$77.33

7.81%

Bitcoin has risen 7%–36% in the first week of January each year since 2018


31 Dec 2021

#Bitcoin

Some analysts are expecting big things for Bitcoin shortly once institutional selling has subsided and capital gets deployed to the market. Some crypto market analysts are highlighting the potential for a green first week on the crypto markets in January as part of what economist and trader Alex Krüger calls the “first week of the year effect.” Krüger pointed out in a Wednesday tweet that for the past four years straight, Bitcoin (BTC) has enjoyed positive returns in the first week of January ranging from 7% to 36% between 2018 and 2021. In 2021, BTC grew from $28,653 to $41,441 in the first week of January.

When asked what had happened in previous years, Krüger replied, “Tbf only 2020 and 2021 matter, different markets, so do with those two data points as you will.”

His optimistic outlook for early January comes from his expectation of strong “fund inflows,” which appears to be in line with the sentiments of Real Vision CEO Raoul Pal. Pal said in a YouTube interview on Monday that he believed the sell-offs on Bitcoin were finished and that January would have a strong start as institutional capital gets reinvested in the market.

ExoAlpha chief investment officer David Lifchitz believes institutions are still selling even with less than 24 hours remaining in 2021 in order to lock in tax losses. It’s possible that a January first week rebound could be correlated with the phenomenon.

Fintech and wealth management firm deVere Group CEO Nigel Green believes that December has shaped up as Bitcoin’s worst monthly showing since May of 2021 due to what he calls “panic sellers practically giving away their cryptocurrencies to wealthy buyers.” He is bullish on the largest cryptocurrency by market capitalization for the long term, however. Green feels that Bitcoin can protect investors from global inflation and that “borderless, global, decentralized currencies are the future.”

Not everyone is bullish on crypto in 2022, however. Carol Alexander, professor of finance at Sussex University, told CNBC that BTC could tank as far down as $10,000 in 2022. She is a skeptic, however, who believes that BTC has no fundamental value and that it has already reached its peak this cycle.

Related: MicroStrategy purchases 1,914 Bitcoin, now holds almost $6B in crypto

A more informed take comes from Todd Lowenstein, chief equity strategist of Union Bank. His view is that “Goldilocks conditions,” such as the COVID financial stimulus packages and low-interest rates that benefited high asset prices, are coming to an end, which will have a significant negative impact on BTC and traditional markets in 2022.

“Goldilocks conditions are ending and the liquidity tide is receding which will disproportionately harm overvalued asset classes and speculative areas of the market including cryptocurrencies.”


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 83.2% 32 $44 191.65 2.28% 14.09% $864 601 373 120 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 77.2% 36 $2 384.27 1.22% 13.64% $286 631 337 595 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 96% 1 $1.000286 0.02% -0.01% $90 361 522 312 USDT 7 days price change
4 XRP (XRP) XRP XRP predictions 81.6% 28 $0.691977 7.73% 12.59% $37 337 342 228 XRP 7 days price change
5 Binance Coin (BNB) BNB Binance Coin predictions 85.2% 18 $244.21 4.75% 6.78% $37 045 963 060 BNB 7 days price change
6 Solana (SOL) SOL Solana predictions 80.8% 38 $77.33 7.81% 24.47% $32 939 078 279 SOL 7 days price change
7 USD Coin (USDC) USDC USD Coin predictions 90.8% 1 $0.999988 -0.01% 0.01% $24 499 538 291 USDC 7 days price change
8 Cardano (ADA) ADA Cardano predictions 81.2% 37 $0.621468 30.58% 60.61% $21 949 609 212 ADA 7 days price change
9 Dogecoin (DOGE) DOGE Dogecoin predictions 74.4% 53 $0.104135 6.51% 24.05% $14 803 690 586 DOGE 7 days price change
10 Avalanche (AVAX) AVAX Avalanche predictions 75.6% 50 $32.83 21.42% 48.15% $12 006 820 565 AVAX 7 days price change
11 Lido stETH (STETH) STETH Lido stETH predictions 96% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
12 TRON (TRX) TRX TRON predictions 94% 7 $0.108469 2.71% 4.89% $9 596 597 053 TRX 7 days price change
13 Chainlink (LINK) LINK Chainlink predictions 77.6% 38 $17.23 7.97% 9.25% $9 592 622 058 LINK 7 days price change
14 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 90.4% 7 $0.107924 2.30% 4.39% $9 548 377 600 WTRX 7 days price change
15 Polkadot (DOT) DOT Polkadot predictions 78% 38 $7.54 20.76% 36.96% $9 456 502 227 DOT 7 days price change

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