Bitcoin has risen 7%–36% in the first week of January each year since 2018
January 1, 2022
Source: Cointelegraph
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.”
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.”