Bitcoin surges back to $103K as analysts anticipate growth

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Grafa2025/01/28 12:10

By:Liezl Gambe

Bitcoin (CRYPTO:BTC) has rebounded from a recent low, reaching an intraday high of $103,100 during the Asian trading session on January 28, 2025.

This recovery follows a twelve-day period where Bitcoin's price dipped below $98,000.

Analyst Rekt Capital noted that Bitcoin appears to have completed its first price discovery correction and is likely entering a second uptrend.

“Bitcoin should be able to embark on its second price discovery uptrend to new highs,” Rekt Capital stated, drawing parallels to previous market cycles.

Historically, Bitcoin has shown similar patterns in its price movements during this stage of the cycle.

Currently, we are in the fourteenth week of the 2025 cycle, and if historical trends repeat, Bitcoin could see further gains by mid-February.

Rekt Capital emphasised that it is still “relatively early on” in the Bitcoin parabolic phase, which typically lasts around 300 days.

As of now, Bitcoin is on day 82 of this phase.

In related news, American TV personality Jim Cramer recently endorsed Bitcoin on CNBC’s Mad Money, stating that “you should own Bitcoin” as part of a diversified portfolio.

Cramer’s fluctuating views on Bitcoin have historically elicited mixed reactions from investors.

Despite Bitcoin's recovery, the overall cryptocurrency market capitalisation has slightly decreased to $3.65 trillion, indicating ongoing challenges for altcoins.

Ethereum (CRYPTO:ETH) fell to $3,036 before recovering to approximately $3,200 but remains down over 6% for the month.

Other altcoins are beginning to recover from recent losses, with XRP (CRYPTO:XRP) reclaiming the $3 mark and Solana (CRYPTO:SOL) approaching $240.

At the time of reporting, the Bitcoin (BTC) price was $102,736.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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