Bitcoin Price on New Year’s Eve: The Strange Holiday Pattern Traders Ignore Every Year
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Key Takeaways
Grayscale predicts new Bitcoin all-time highs in 2026.
Critics like Jacob King and Peter Schiff warn of Bitcoin’s decline.
Macro pressures continue to weigh on markets.
Bitcoin will set fresh record highs in 2026 despite recent market turbulence, according to a new report from Grayscale Research, which has strongly pushed back against growing bearish sentiment.
The prediction comes amid a wave of harsh criticism against Bitcoin, including from long-time detractors Jacob King and Peter Schiff, who have dramatically warned that its time as an asset is drawing to an end.
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In a report published Monday, Grayscale argued that Bitcoin is unlikely to follow the traditional four-year cycle.
This cycle is widely cited as the pattern in which crypto peaks and then undergoes a sharp correction around each halving event.
“Although the outlook is uncertain, we believe the four-year cycle thesis will prove to be incorrect, and that Bitcoin’s price will potentially make new highs next year,” the firm’s analysts wrote.
Grayscale analysts added that the recent correction in the crypto industry is within historical norms.
Its research showed that since 2010, Bitcoin has experienced more than 50 drawdowns of over 10%, with an average decline of around 30%.
Critics Sound Alarm as Bulls Hold Firm
The upbeat outlook comes as some long-standing critics continue to argue that Bitcoin’s best days are behind it.
“BTC will never surpass ATHs ever again,” long-time Bitcoin critic Jacob King posted on X on Monday.
“You can never top the greed and delusion of the last few years, and reality is finally setting in,” he added.
King wrote that he believes the current bear market is “the final cycle before Bitcoin dies.”
BTC will never surpass ATHs ever again.
You can never top the greed and delusion of the last few years, and reality is finally setting in.
This bear market is the final cycle before Bitcoin dies.
The comments, as always, were met with immense pushback from Bitcoin supporters.
One user even asked Grok to search his old posts to find out how many times he had missed the mark on predictions, with the AI writing: “His calls missed at least 4-5 times amid bull cycles.”
Skepticism has also been aimed at Bitcoin-linked equities.
Peter Schiff has remained characteristically opposed to Bitcoin | Source: X
Peter Schiff, a prominent gold advocate and Bitcoin opponent, said Strategy’s model is under growing strain after alleging that founder Michael Saylor sold shares to meet corporate obligations.
“Today is the beginning of the end of MSTR,” Schiff wrote on X. “The stock is broken. The business model is a fraud, and Saylor is the biggest con man on Wall Street.”
Market Pressure Builds, but Many Remain Positive
Bitcoin’s latest selloff has mirrored broader market weakness, dropping about 5% within hours on Sunday and sliding below $86,000, a move that erased more than $200 billion in market value.
Analysts say macroeconomic concerns continue to weigh on sentiment.
CCN analyst Victor Olanrewaju said the pace of the decline reflected investor anxiety over developments in Japan.
“In short, the combination of a weakening yen, rising inflation, and a suddenly more hawkish BOJ has rattled markets,” he wrote. “If left unchanged, Bitcoin’s price may experience an extended decline.”
But several strategists, including Fundstrat’s Tom Lee and Newton’s Mark Newton, have maintained bullish views.
On Sunday, Lee told CNBC that he believed Bitcoin could “make an all-time high by the end of January.”
Kurt Robson is a London-based reporter at CCN, specialising in the fast-moving worlds of crypto and emerging technology. He began his career covering local news in Cornwall after graduating from Falmouth University with First Class Honours in Journalism. There, he cut his teeth on everything from council meetings to missing swans.
He quickly rose through the ranks to become a frontline journalist at several of the UK’s leading national newspapers. Over the years, he has interviewed musicians and celebrities, reported from courtrooms and crime scenes, and secured multiple front-page exclusives.
Following the upheaval of the COVID-19 pandemic, Kurt shifted his focus to technology journalism—just ahead of the AI boom. With a natural curiosity and a trained eye for emerging trends, he has found a new rhythm in reporting on innovation.
At CCN, Kurt's work focuses on the cutting edge of crypto, blockchain, AI, and the evolving digital world. Drawing on his background in people-first reporting and his deep interest in disruptive tech, Kurt delivers stories that are insightful, entertaining, and human-centric.
