The world’s largest cryptocurrency, Bitcoin (BTC), began the new year with a slow start, trading below $105,000 at the beginning of January. Market sentiment was cautious as BTC struggled to gain momentum in the first few days of the year.
However, the cryptocurrency soon reversed course, gaining strength as investor confidence increased. Within weeks, Bitcoin managed to recover and even achieved a brand-new all-time high, signaling renewed bullish activity in the market.
Despite its sluggish start, many analysts and community members remain optimistic that BTC will end January on a strong and promising note, driven by increased institutional interest and favorable market conditions.
Bitcoin Hits a New All-Time High
When Donald Trump took office, the cryptocurrency market experienced a significant surge, with Bitcoin leading the way. On January 20, Bitcoin, often referred to as the “king coin,” hit an all-time high of $109,114.88, marking a historic milestone for the digital asset.
This spike fueled optimism within the crypto community, with many speculating that Bitcoin would maintain its upward trajectory and soon reach $115,000. However, the rally was short-lived. Bitcoin underwent a sharp correction shortly after, pulling back from its peak.
Currently, the asset is trading 6.66% below its record-breaking high, highlighting the volatility that continues to define the cryptocurrency market. This development has sparked discussions about what might come next for Bitcoin and whether it can regain its momentum.
According to CoinMarketCap, Bitcoin is currently trading at $104,588.36, reflecting a 3.11% decline in the past 24 hours. Earlier today, it reached a high of $107,098.50 before dropping to its latest low. Optimism remains strong for BTC to finish the first month of the year on a positive note, with many expecting one final surge before the new month begins.
Bitcoin (BTC) Price Prediction
Bitcoin looks poised to end January on a high note. The cryptocurrency is expected to reach $111,598 in the final days of the month, marking a new peak and a 9.46% increase from its current price. By the month’s end, our expert’s technical analysis predicts Bitcoin will settle at $113,096, giving it strong momentum heading into February.
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Disclaimer
The information in this article should not be considered financial advice, and the OvenAdd platform is intended only to provide educational and general information. Please conduct your own research and consult a financial advisor before making any investment choices.
