$BTC often shows growth in the first months of the year, which is sometimes called the "January effect". However, this is not a rule and depends on many factors, such as:
🐂General trend of the cryptocurrency market: A growing market (so-called bull market) favors growth in January, while in a falling market (bear market) BTC can fall or remain stable.
🆕Inflow of new investors: The beginning of the year is often associated with an inflow of capital from new investors, which can increase demand.
🏦Macroeconomic data: Inflation, interest rates or actions of central banks affect the perception of Bitcoin as an asset.
🔁Seasonality and market cycles: In the past, Bitcoin has had strong growth in January in years after halving (reduction of the reward for mining a block).
Examples from recent years:
2021: Bitcoin started the year around $29,000 and reached over $40,000 in January.
2023: Bitcoin rose from around $16,500 to over $23,000 in January, one of the largest gains in a single month.
