Economist and trader Alex Krüger pointed out in a tweet on December 29 that between 2018 and 2021, Bitcoin has achieved positive returns of 7% to 36% in the first week of January for four consecutive years.
In the first week of January 2021, Bitcoin rose from $28,653 to $41,441. It is still expected that, driven by capital inflows, the crypto market will experience a strong rise in early January. If the next inflation data is released (January 12), then the risk will be avoided before the next Federal Open Market Committee meeting (January 26).
Krüger’s optimistic expectations for the beginning of January came from his expectations of strong “funds inflows”, which seemed to be consistent with the views of Real Vision CEO Raoul Pal. In an interview with Youtube on December 27, Pal said that he believes that the Bitcoin sell-off is over and that next January will usher in a strong start because institutional capital will be reinvested in the market.