Bitcoin \u201chas only just started its price discovery phase,\u201d crypto analyst \u2018Daan Crypto Trades\u2019 told his 390,000 followers on X on Jan. 7.<\/p>\n
Price discovery occurs when an asset enters new territory and makes consecutive new all-time highs. At the time of writing, BTC was just 6% away from its Dec. 17 peak price of $108,135, according to CoinGecko.<\/p>\n
It has gained more than 10% in a week and broke above<\/a> the $100,000 level again during late trading on Jan. 6.<\/p>\n BTC hit an intraday high of $102,500 during early trading in Asia on Tuesday before falling back slightly.<\/p>\n \u201cWe\u2019re now in the first full week of the post-halving year, which is historically the most bullish year of the cycle,\u201d the analyst added.<\/p>\n $BTC<\/a> Has only just started its price discovery phase.<\/p>\n We\u2019re now in the first full week of the post halving year, which is historically the most bullish year of the cycle.<\/p>\n Exciting times. pic.twitter.com\/1s10e5JS54<\/a><\/p>\n \u2014 Daan Crypto Trades (@DaanCrypto) January 6, 2025<\/a><\/p>\n\n CryptoQuant founder Ki Young Ju was also bullish,\u00a0commenting<\/a> on this bull market on X on Jan. 7.<\/p>\n \u201cThis Bitcoin bull cycle might turn out to be the longest ever. New liquidity sources are steadily fueling the market, and more are waiting to be unlocked.\u201d<\/p>\n However, some analysts at the firm didn\u2019t agree<\/a>, predicting that the bull market<\/a> may end in the first half of this year.<\/p>\n ITC founder Benjamin Cowen observed that Bitcoin would need to reclaim a short-term trendline, which could put its price at $120,000 by the day of Donald Trump\u2019s inauguration on Jan. 20.<\/p>\n If #BTC<\/a> can tag this short-term trend line again, it would correspond to $120k by the inauguration (Jan 20th) pic.twitter.com\/vjKQzXd57m<\/a><\/p>\n \u2014 Benjamin Cowen (@intocryptoverse) January 6, 2025<\/a><\/p>\n\n Meanwhile, fellow analyst \u2018Rekt Capital\u2019 observed<\/a> that Bitcoin\u2019s bullish daily candle above $101,165 is a breakout from its daily range.<\/p>\n He also said that 2025 will be the year of the bull market peak, 2026 will be the year of the bear market, and \u201c2027 will be the bottoming out year to precede an entirely brand new future bull market.\u201d<\/p>\n Even Bitcoin educator and investor Tone Vays said<\/a> he was back in the market at current levels after selling in November.<\/p>\n \u201cNow that the year is over, I am now back to fully long in Bitcoin as of this afternoon at a price of around 100k!\u201d<\/p>\n Crypto market capitalization is up marginally at $3.74 trillion at the time of writing, mostly due to Bitcoin\u2019s 2.7% daily gain into six-figure territory again.<\/p>\n Ethereum hasn\u2019t mirrored the momentum with a short spike above $3,700, only to fall back again on Tuesday morning.<\/p>\n The altcoins were mostly flat, with minor gains for Tron (TRX), Avalanche (AVAX), and Hyperliquid (HYPE).<\/p>\n The post Price Discovery Just Beginning, Say Analysts as Bitcoin Reclaims $102K<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Bitcoin \u201chas only just started its price discovery phase,\u201d crypto analyst \u2018Daan Crypto Trades\u2019 told his 390,000 followers on X on Jan. 7. Price discovery occurs when an asset enters new territory and makes consecutive new all-time highs. At the time of writing, BTC was just 6% away from its Dec. 17 peak price of […]<\/p>\n","protected":false},"author":0,"featured_media":33774,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-33773","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/33773"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=33773"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/33773\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/33774"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=33773"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=33773"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=33773"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Most Bullish Year of The Cycle<\/h2>\n
Elsewhere on Crypto Markets<\/h2>\n