New Year's is always an important time in the market. Everyone is waiting to see where the market is going. Will prices soar or will there be a sudden drop? In this article, we will go back to the market's performance in the past years and talk about the most important movements, and we will see how the situation is doing so far.
What did the market do on New Year's Eve in the past years?
2017: The Historic Leap
In 2017, the market was on fire, Bitcoin was close to reaching $20,000 for the first time. The main reason was the entry of new investors and moves by large companies that increased the demand for digital currencies.
2018: The Year of the Great Correction
After the huge rise in 2017, the market took a step back in 2018. Bitcoin dropped to $3,800, and most other currencies fell due to massive profit-taking sales.
2020: New Beginning
In 2020, the market started to recover from the Corona crisis, and Bitcoin broke the $ 29,000 barrier. It was clear that people started to see cryptocurrencies as a new way to secure their money against inflation.
2022: Fluctuations due to crises
2022 was full of problems, such as the FTX crisis that affected the entire market. However, Bitcoin tried to establish itself at $16,000, and the market was in a state of anticipation more than movement.
2023: Relative calm with some surprises
The end of 2023 was quiet compared to previous years. The market movement was simple, but a coin like TRB made a sudden surge and caught the attention of investors.
2024: Strong and stable performance so far
In 2024, Bitcoin made a historic achievement and reached $100,000 for the first time. The main reason is the interest of large companies in digital currencies and their increased adoption.
Why does the market move like this on New Year's?
Profit taking: Many investors sell at the end of the year to take their profits, and this puts pressure on prices.
Expectations At this time, people are focused on the new year, and this affects buying and selling decisions.
Global events, any major economic decisions such as raising interest rates or changes in monetary policy, directly affect the market.
Currencies that made mutations
Binance Coin BNB in 2018, although the market was collapsing BNB achieved a rise and preferred to maintain its value.
2. Ethereum ETH in 2020 ETH benefited from Decentralized Finance (DeFi) projects and rose significantly.
3. TRB In 2023 TRB made an unexpected move and rose significantly, which made it the focus of many investors.
New Year's Eve 2024 Market Outlook
The market is relatively stable and may be calmer this year compared to previous years.
Interest in altcoins Coins like Polygon and Arbitrum may attract attention thanks to the technical developments they bring.
Bitcoin's continued strength after exceeding the $100,000 barrier in the past few days and the correction at $95,000 that is currently present, Bitcoin may remain in the lead.
Any global economic decision could suddenly change the situation.
Market volatility on New Year's Eve is not always an indicator of what will happen in the future.
The market movement on New Year's Eve is an opportunity for some currencies to emerge. If you are thinking of investing, have a clear plan and focus on the long term instead of being affected by one day's movement. The new year may be full of opportunities, but the most important thing is to be ready and prepared. This is of course just an analysis and opinion, not financial advice 😊👻
