Bitcoin ( BTC ) entered a bull run in early November of 2024 — culminating in an all-time high (ATH) price of approximately $106,070 on December 17. A correction ensued soon after — BTC prices receded to $92,630 before briefly breaching the $100,000 mark again on January 7, 2025 — although the surge didn’t last. What followed was another drop below $93,000 — however, over the last 24 hours, the price of the leading cryptocurrency has gone up by 2.74%. At press time, a single Bitcoin was changing hands at $99,450. BTC price 24-hour chart. Source: Finbold The release of the U.S. Labor Department’s Consumer Price Index (CPI) data for December was the primary driver behind the surge. Although the CPI’s annual rate came in at the expected 2.9%, core inflation, which came in at 3.2%, was less severe than anticipated. While still a ways away from the Federal Reserve’s target inflation of 2%, the better-than-expected results helped assuage investors’ worries regarding a potential rate rise. With such sharp and sudden moves at play, Finbold has decided to consult the advanced AI algorithm utilized by the cryptocurrency analytics and forecasting platform PricePredictions for a better overview as to which prices BTC could be trading by the end of January. Machine learning algorithm sets bullish predictions for Bitcoin prices Taking into account the myriad factors at play, the algorithm presented an optimistic outlook for Bitcoin’s near-term price action. In fact, according to the forecast, BTC could breach the $100,000 mark once more within an hour after publication — following which, it could reach prices slightly above $105,000 in a week’s time. Should the predictions come true, BTC would ultimately reach a price of $107,050 by January 31 — however, further upward moves are also projected. BTC price prediction 30-day chart. Source: PricePredictions Perhaps most notably, the PricePredictions algorithm also outlines that Bitcoin will reach a new all-time high of $110,928 by February 15 — a move which would no doubt serve to drown out any remaining bearish sentiment and bring about renewed buying interest. As ambitious as those price predictions might sound, they do not represent fringe opinions — noted cryptocurrency analyst TradingShot recently outlined how BTC could reach prices as high as $200,000 based on previous market cycles — a sentiment echoed by legendary trader Peter Brandt , who also expects to see a decisive move to levels above $100,000 soon. Featured image via Shutterstock The post Machine learning algorithm predicts Bitcoin price for January 31, 2025 appeared first on Finbold .
