28.01.2025 10:50
Bitcoin has recovered from a low level and surpassed the $103,100 mark. With this new increase in Bitcoin's price, analysts predict that a second wave of price discovery towards new peaks will begin.
Bitcoin quickly rebounded from low levels, surpassing $103,100. The cryptocurrency markets are preparing for a new price discovery phase with this rise. Analysts predict that history will repeat itself and that Bitcoin will reach new peaks in a short time.
Bitcoin's Second Price Discovery Wave is Near
The leading unit of the cryptocurrency market, Bitcoin, has managed to climb back above $100,000 after a brief decline. After dropping to $98,000 on Monday, Bitcoin showed signs of recovery by rising to $103,100 on Tuesday morning with the opening of Asian markets.
Cryptocurrency analyst "Rekt Capital" stated in an evaluation dated January 28 that Bitcoin has completed its first price discovery rally and the subsequent correction process. The analyst predicts that a second upward trend may begin within the next two weeks based on past cycles.
Highlighting historical data, the analyst emphasized that a similar pattern was observed in the 2017 and 2021 cycles. Reminding that new peaks were reached in the 16th week of both cycles, the expert noted that we are currently in the 14th week of the 2025 cycle and that a new upward wave could be triggered by mid-February.
Stating that we are on the 82nd day of these cycles, which average 300 days, the analyst assessed that Bitcoin is still in the early stage referred to as the "parabolic phase."
In addition to these developments, Jim Cramer's statements supporting Bitcoin investment have created unease in the cryptocurrency community. Cramer, who stated on the Mad Money program that "Bitcoin is a great investment that must be in your portfolio," has variable opinions that generally resonate negatively in the market.
The total value of the cryptocurrency market has slightly decreased to $3.65 trillion. This decline indicates that altcoins are struggling in their recovery process. After dropping to $3,036, Ethereum tested the $3,200 level again, with losses this month exceeding 6%. Among other altcoins in the cryptocurrency markets, XRP regained the $3 level, while Solana surpassed the $240 level.