Bitcoin (BTC) entered a bull run in early November 2024, reaching an all-time high of around $106,070 on December 17. A correction followed, with BTC falling to $92,630; the price briefly broke above $7 again on January 2025, 100,000, but it was short-lived.
Another drop below $93,000 followed, but on January 15, the leading cryptocurrency rose by 3,8% to 100,702.
24-hour BTC price chart. Source: CoinGecko
The release of the Labor Department's Consumer Price Index (CPI) for December was the main driver of the increase. Although the annual CPI figure was the expected 2,9%, core inflation, at 3,2%, was lower than expected.
Under these conditions, an advanced AI algorithm used by crypto analytics and forecasting platform PricePredictions has determined what price BTC could be trading at by the end of January.
Taking into account a variety of factors, the algorithm has come up with an optimistic forecast for Bitcoin's short-term movement. According to the forecast, BTC could rise slightly above $105,000 within a week.
By January 31, BTC could rise to $107,050, with AI predicting further upward movement.
BTC Price Prediction for 30 Days. Source: PricePredictions
Notably, the PricePredictions algorithm also predicts that by February 15 Bitcoin will reach a new historical high of $110,928.
