Bitcoin price on January 1st

December 27, 2023
Updated: January 2, 2024
3 min read
A toast to Bitcoin on January 1

Cryptocurrencies, with Bitcoin at the forefront, have disrupted the financial world in recent years. For many investors, the value on January 1st is a crucial factor, as it's used for tax purposes. We take a look at Bitcoin prices on January 1st over the past eleven years, in euros and dollars.

Taxes on crypto

In the Netherlands, owning cryptocurrency is subject to taxes. Depending on how someone acquires their Bitcoin (professionally, income, or investment), there may be corporate tax, income tax, or wealth tax obligations. Always verify what applies to your specific situation.

During the annual tax return, the value of the cryptocurrency on January 1st of the previous year is considered. So, when filing taxes from March 2024, an investor needs to report the value of their Bitcoin holdings on January 1, 2023.

Bitcoin value on January 1st

Prices vary between exchanges. We've used data from Coingecko, an independent platform that calculates prices based on averages from various public exchanges. The rates were recorded at midnight on January 1st.

YearBitcoin price January 1st (in euros)Bitcoin price January 1st (in dollars)
2024€38,341$42,320
2023€15,402$16,540
2022€40,815$46,319
2021€23,749$29,022
2020€6,416$7,195
2019€3,218$3,692
2018€11,732$14,093
2017€948$998
2016€400$434
2015€259$313
2014€560$767

Price differences across exchanges

Before delving into the numbers, it's important to note that Bitcoin prices on January 1st can vary depending on the exchange. Different crypto exchanges may have slight price variations due to liquidity, trading volume, and other factors. The prices mentioned above are indicative in nature and should not be used for any legal or financial purposes. Always verify the specific exchange's price. Also, consider possible exchange rate differences between the euro and the dollar if applicable to your situation.

Lows between 2018 and 2019

In 2017, Bitcoin experienced a booming period, reaching a new all-time high just before the New Year. As a result, the price on January 1st, 2018, was exceptionally high. However, Bitcoin lost momentum afterward, and the markets became more volatile and scared due to several hacks and Ponzi schemes, resulting in a significant difference between 2018 and 2019; with a drop of a staggering 73%.

64% drop between 2022 and 2023

The year 2022 was turbulent for the crypto world as a whole. A major hack was followed by the Terra/LUNA crash in May, followed by the downfall of Celsius and several other well-known cryptocurrency parties. The year ended with the collapse of one of the largest exchanges at the time: FTX. Consequently, Bitcoin experienced a 64% drop between January 1st, 2022, and January 1st, 2023.

2000+ percent increase in ten years

Although not every year saw positive gains, the price difference between January 1st, 2014, and January 1st, 2023, amounted to more than two thousand percent, despite a significant dip in Bitcoin's price on January 1st, 2023.

Bitcoin Price on January 1st, 2025

We do not provide financial advice or make price predictions. However, we do have a practical tip: take a screenshot or note down the Bitcoin price after celebrating the New Year, so you won't need to search for it later.

The information provided in our articles is intended solely for general informational purposes and does not constitute (financial) advice.

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