{"id":1551,"date":"2022-01-31T14:02:59","date_gmt":"2022-01-31T14:02:59","guid":{"rendered":"https:\/\/cryptoheretostay.com\/?p=1551"},"modified":"2022-01-31T14:03:00","modified_gmt":"2022-01-31T14:03:00","slug":"bitcoin-price-down-20-so-far-in-2022-after-worst-january-since-2018","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=1551","title":{"rendered":"Bitcoin price down 20% so far in 2022 after worst January since 2018"},"content":{"rendered":"<script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script>\n<p>Bitcoin (BTC) is heading for its worst January performance in four years \u2014 could all not be what it seems?<\/p>\n<p>Data from on-chain analytics resource Coinglass\u00a0shows\u00a0January 2022 to be the least profitable since the peak of Bitcoin\u2019s last halving cycle. Investors, however, are still waiting for a \u201cblow-off top.\u201d<\/p>\n<h2>Will Bitcoin see a rare \u201cred\u201d February?<\/h2>\n<p>Against practically all expectations, BTC price action has continued to underperform this month.<\/p>\n<p>At current spot prices of $36,800, BTC\/USD is down 20.1% versus the start of the year, compounding misery that began in November, data from\u00a0Cointelegraph Markets Pro and TradingView\u00a0shows.<\/p>\n<p><em>BTC\/USD 1-month candle chart (Bitstamp). Source: TradingView<\/em><\/p>\n<p>Historical figures show that January is conversely often a \u201cgreen\u201d month for Bitcoin \u2014 2021, by comparison, delivered gains of more than 21%.<\/p>\n<p>The same can be said for November and December, however, making this year especially painful for bulls. Those two months in 2020 saw price increases of 43% and 47%, respectively.<\/p>\n<p>The last \u201cred\u201d January for Bitcoin, meanwhile, was in 2018, as the fervor surrounding the trip to then all-time highs of $20,000 rapidly cooled.<\/p>\n<p>That halving cycle peak, coming roughly 18 months after the previous block subsidy halving event, should have played out again in late 2021. The reality was quite different, and Bitcoin\u2019s underperformance saw time-tested price apparatus come in for criticism.<\/p>\n<p>While Cointelegraph is considering what could break the downtrend\u00a0next month, February still has history on its side when it comes to Bitcoin price strength.<\/p>\n<p>Last year, BTC\/USD gained nearly 37% in four weeks, while serious downside last occurred far back in February 2014. In 2018, by contrast, Bitcoin hardly moved.<\/p>\n<p><em>Bitcoin monthly returns chart (screenshot). Source: Coinglass<\/em><\/p>\n<h2>Shorters in the mood this week<\/h2>\n<p>As Cointelegraph reported, the out-of-character price behavior since November has got analysts wondering whether Bitcoin is in a bull or a bear market.<\/p>\n<p><strong><em>Related:\u00a0\u2018Stop panic selling\u2019 \u2014 Bitcoin whales bag spare BTC as exchange balances fall<\/em><\/strong><\/p>\n<p>At the height of this month\u2019s losses last week, hodlers were down 52% against all-time highs, and so opinions favor further downside to come.<\/p>\n<p>Data shows opportunist traders\u2019 resolve \u2014 the dip below $37,000 that followed the weekly close was heavily utilized by shorters betting on weakness continuing.<\/p>\n<p lang=\"en\" dir=\"ltr\">Big shorts feeding on this dip below $37k on Binance Perp. pic.twitter.com\/lPapGkSClp<\/p>\n<p>\u2014 TXMC (@TXMCtrades) January 31, 2022<\/p>\n<p>Bullish bias, meanwhile, is broadly off the table until a convincing retake of $38,500 and higher.<\/p>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cointelegraph.com\/news\/bitcoin-price-down-20-so-far-in-2022-after-worst-january-since-2018\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin (BTC) is heading for its worst January performance in four years \u2014 could all not be what it seems? Data from on-chain analytics resource Coinglass\u00a0shows\u00a0January 2022 to be the least profitable since the peak of Bitcoin\u2019s last halving cycle. Investors, however, are still waiting for a \u201cblow-off top.\u201d Will Bitcoin see a rare \u201cred\u201d [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1552,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[2],"tags":[],"class_list":["post-1551","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/1551","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1551"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/1551\/revisions"}],"predecessor-version":[{"id":1553,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/1551\/revisions\/1553"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/1552"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1551"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1551"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1551"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}