Bitcoin (BTC) experienced an explosive rally in early November after Trump's victory, making high after high until it reached a new high.ll-time high of $108,268 on December 17. The fund subsequently corrected, slipping below the $95,000 level.
Yesterday the most valuable crypto regained momentum and once again crossed the $100,000 threshold driven by American inflation data. It is holding slightly lower today and is currently trading at a level of $98,859.
What pushed the increase in the fund was the data disclosure on the Consumer Price Index (CPI) from the US Department of Labor for the month of December. While year-over-year CPI came in at 2.9% as expected, headline inflation of 3.2% was lower than expected.
Although still far from the Federal Reserve's 2% inflation target, the better-than-expected results helped calm investors' fears about a possible rise in interest rates.
In order to understand the possible price movements of Bitcoin during the month, we decided to consult the advanced artificial intelligence algorithm used by the crypto analysis and forecasting platform Prices.
Artificial Intelligence predicts a rally for Bitcoin
Taking into account all the factors involved, the advanced algorithm of artificial intelligence has published a bullish forecast for Bitcoin in the near future. According to the AI, BTC could cross the $100,000 mark again, and then reach slightly higher levels, such as $105,000, within a week.
The bullish trend could take the crypto asset all the way to threshold of $107,050 by the end of January, paving the way for further price increases.
AI and experts predict new long-term highs for Bitcoin
In addition, the artificial intelligence of the PricePredictions platform predicts that Bitcoin could reach a new all-time high of $110,928 by February 15, a rise that could eliminate any bearish sentiment and that would stimulate renewed buying interest.
There are several bullish predictions for Bitcoin. For example, the renowned crypto analyst Shot Exchange predicts a $200,000 target for Bitcoin, based on previous market cycles. A similar target has been proposed by the banking giant Standard Charteredwho had already correctly predicted the $100,000 milestone, driven by growing interest from institutional investors.
Even the trader Peter Brandt shares this positive view, expecting a push soon that will take Bitcoin above the $100,000 threshold.
Another bullish forecast comes from Kevin Svensontrader and analyst, who predicts new all-time highs for Bitcoin this year. According to Svenson, the cryptocurrency could hit $124,000 by the middle of the year. After a possible summer correction, the analyst predicts another rally that could push Bitcoin to new heights around October.
Best Wallet: The new secure solution for Bitcoin management
For the safe management of Bitcoin, several investors are considering Best Wallet. The new Web3 wallet, designed to meet the needs of the market, stands out not only for its security, but also for a simple and intuitive interface that makes it a good alternative instead of more known wallets such as MetaMask.
Best Wallet supports several crypto assets on more than 50 blockchains, including Bitcoin, Ethereum and USDT. Users can buy, trade, store and sell their cryptocurrencies directly within the app.
In addition, Best Wallet also integrates Best DEXa decentralized aggregator that optimizes exchanges for users. The Best Card project will soon launch, a crypto debit card that allows you to spend BTC, ETH and other crypto tokens.
But the news does not end here. The project has started the pre-sale of the $BEST token, offering several benefits to its holders. In addition to discounts on transaction fees in the Best Wallet ecosystem, $BEST holders can receive more rewards through hosting and access to special crypto pre-sales, such as Pepe Wall Streetthanks to the action “Accounts Due” present in the app.
