The world’s largest cryptocurrency, Bitcoin (BTC), could be ending a historic year below the $100,000 mark. Earlier this month, the king coin surged all the way to a high of $108,268.45. Despite this rise, the asset failed to garner enough momentum to maintain itself at this peak. While the community believes that BTC could turn heads on the last day of the year and push itself over $100,000, a few remain skeptical.
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Looking Into Bitcoin’s Current Price Level
After recording a 1.39% drop over the past 24 hours, Bitcoin was trading at $93,657.23 during the time of writing. The king coin had a rather rough week as it remained below $100,000 throughout the past seven days. In addition, BTC is trading 14% below its all-time high. While Bitcoin has dipped as low as $91,998.78 this month, the market hopes that the asset holds itself at least over the $90,000 mark.
The possibility of a further correction cannot be negated. However, several highlighted how the latest drop in Bitcoin was quite normal. A cooldown of this sort is typical after a halving event that occurred in 2024. Along with this, the latest rally of the king coin was fueled by Donald Trump’s win. This uptick seems to be stalling as the year comes to an end. With Trump set to take office in January 2025, BTC might record an uptrend in the coming month.
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January Price Prediction
According to data from CoinCodex, Bitcoin is expected to record a new high in January 2025. The firm revealed that BTC has the potential to surge all the way to $124,965 in the coming month. This marks a 33% rise from its current price level.
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During the first month of the next year, Bitcoin’s average trading price is expected to be around $109,965. The lowest that BTC will trade at is $102,189.