The world’s largest cryptocurrency Bitcoin (BTC) kickstarted the first month of the new year on a rather slow note. The asset was trading below $100,000. But soon enough the king coin managed to rise and even hit a brand new high. While the start of January was quite sloppy, the community is sure that BTC will conclude the month on a strong note.
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A Glance At Bitcoin’s New Peak
Amidst Donald Trump taking office, the price of Bitcoin and the rest of the market surged. On January 20, the king coin recorded an all-time high of $109,114.88. While the community assumed that the asset would continue this momentum and reach $115,000, BTC stepped back. The asset witnessed a massive correction and is currently 6.66% below this peak.
At the time of writing, Bitcoin was trading at $102,043.36 following a 3.11% drop over the past 24 hours. Earlier today, the cryptocurrency was priced at a high of $105,557.50 before dipping to its latest low.
The market has increased hopes for BTC to close the first month of the year on a good note. Several believe that it will get its one last boost during this time before commencing the new month.
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Price Prediction
It seems like Bitcoin is all set to bid goodbye to January on a positive note. The king coin will trade at a high of $111,598 on the last few days of the month. This marks a new peal for BTC and it translates to a 9.46% rise from its current price level.
On the last day of the month, Bitcoin will be priced at $110,686, according to data from CoinCodex. The king coin is certainly garnering a head start into the coming month.
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