As investors bid farewell to 2021, the global crypto market cap rose 2.44% in the first hours of the new year. While many altcoin projects have failed to break through the bearish trend, economist and crypto trader Alex Kruger “expects a strong crypto market in early January, driven by inflows of funds.” Bride, cryptocoin.com Let’s take a look at the January price predictions of Bitcoin analysts we have compiled.
Analysts expect a warm January
Alex Kruger took to Twitter to analyze Bitcoin returns in early January over the past four years. Interestingly, a positive return has been noted each time in the king crypt model. Kruge shares Bitcoin’s January performance since 2018:
- 2021 36%
- 2020 13%
- 2019 7%
- 2018 18%
Carol Alexander warns Bitcoin investors
Unlike Alex Kruger, University of Sussex finance professor Carol Alexander expects sharp Bitcoin corrections next year. Alexander told CNBC that BTC could drop as low as $10,000, wiping out all gains due to a “lack of fundamental value.” He even invites investors to steer clear of Bitcoin:
If I were an investor now, I would consider exiting Bitcoin soon because its price will likely crash next year.
On the funds flow front, Coinshares has hinted at the largest weekly outflows on record totaling $142 million in its latest weekly report. The exchange shared the following analysis and chart:
Bitcoin saw a total of $89 million in outflows, well below the outflows of as much as $150 million seen in June.
However, Ricardo Salinas Pliego, the third richest person in Mexico, recently urged his Twitter followers to invest in Bitcoin this new year. In the video message translated from Spanish, he noted:
Stay away from fiat money… it’s fake money made of paper and lies. Central banks are printing more money than ever before. Invest in Bitcoin.
Analysts think institutional demand could rise
However, Noelle Acheson at Genesis Global Trading predicts strong institutional interest in Bitcoin (BTC) and crypto companies in the coming year. In a recent interview he said:
Corporate growth over the last 12 months has been amazing. We are seeing strong signs that this will accelerate next year, both through direct token investment and investment in crypto market infrastructure companies themselves.
He also estimated that the year saw the birth of 40 crypto unicorns out of 65 names in the market. However, Acheson noted that Bitcoin is no longer the only option for large investors:
Also, we’re seeing greater interest from institutions in a more diversified crypto portfolio… the industry really thinks it has just differentiated itself from the market leader.
Finally, Acheson noted that many investors are currently skipping the two major cryptocurrencies and going for some of the riskier but also higher-yield tokens that represent technological advancement and new cultural expressions.
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