Bitcoin
BTC$28 164.10

0.33%

Ethereum
ETH$1 787.94

1.35%

Tether
USDT$1.001512

0.02%

Binance Coin
BNB$324.78

-3.14%

USD Coin
USDC$0.998760

0.04%

XRP
XRP$0.444871

13.53%

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 75.6% 48 $28 164.10 0.33% 13.02% $544 261 794 571 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 82.8% 31 $1 787.94 1.35% 5.81% $218 797 673 934 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 93.2% 1 $1.001512 0.02% -0.33% $77 553 405 398 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 78% 46 $324.78 -3.14% 5.19% $51 279 077 061 BNB 7 days price change
5 USD Coin (USDC) USDC USD Coin predictions 95.6% 2 $0.998760 0.04% -0.12% $35 199 682 488 USDC 7 days price change
6 XRP (XRP) XRP XRP predictions 86.4% 15 $0.444871 13.53% 20.20% $22 666 568 541 XRP 7 days price change
7 HEX (HEX) HEX HEX predictions 64% 80 $0.103499 4.55% 25.69% $17 947 941 823 HEX 7 days price change
8 Cardano (ADA) ADA Cardano predictions 74.8% 51 $0.371437 9.28% 9.72% $12 895 992 999 ADA 7 days price change
9 Lido stETH (STETH) STETH Lido stETH predictions 95.6% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
10 Polygon (MATIC) MATIC Polygon predictions 75.2% 48 $1.14 1.42% -3.43% $9 978 105 668 MATIC 7 days price change
11 Dogecoin (DOGE) DOGE Dogecoin predictions 72.8% 55 $0.074846 3.43% 1.71% $9 929 845 913 DOGE 7 days price change
12 Solana (SOL) SOL Solana predictions 69.6% 56 $22.51 0.16% 8.87% $8 635 954 598 SOL 7 days price change
13 Binance USD (BUSD) BUSD Binance USD predictions 91.2% 1 $1.000029 0.05% 0.02% $8 119 915 835 BUSD 7 days price change
14 Polkadot (DOT) DOT Polkadot predictions 72% 50 $6.26 1.54% 0.77% $7 311 391 259 DOT 7 days price change
15 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 84% 24 $0.066579 3.00% 0.41% $6 769 516 188 WTRX 7 days price change

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