Bitcoin has risen 7%–36% in the first week of January each year since 2018

Economist Alex 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.

His optimistic outlook for early January comes from his expectation of strong “fund inflows” .

Real Vision CEO Raoul said in a YouTube interview on Monday that he believed the sell-offs on Bitcoin were finished and that January would have a strong start as institutional capital gets reinvested in the market.

Not everyone is bullish on crypto in 2022, however.

Carol Alexander, professor of finance at Sussex University, told CNBC that BTC could tank as far down as $10,000 in 2022. She is a skeptic, however, who believes that BTC has no fundamental value and that it has already reached its peak this cycle.

A more informed take comes from Todd Lowenstein, chief equity strategist of Union Bank. His view is that “Goldilocks conditions,” such as the COVID financial stimulus packages and low-interest rates that benefited high asset prices, are coming to an end, which will have a significant negative impact on BTC and traditional markets in 2022.