Bitcoin price could reach 122 thousand dollars by end of January – analyst

The price of Bitcoin could rise by 15% to 122,000 dollars by the end of January, according to a forecast by Marcus Thielen, head of research at 10x Research.

According to the expert, the leading cryptocurrency "successfully tested a wedge breakout" after bouncing from the 98,937-dollar level on January 21 and surging above 107,000 dollars. Thielen believes that such a breakout in Bitcoin's price chart suggests a "low-risk, high-reward entry opportunity" for investors.

Traders managed to set a stop-loss at 98,000 dollars, eliminating potential losses and securing significant growth. Since the approval of spot Bitcoin ETFs in the U.S. a year ago, Bitcoin has consistently increased by 16,000–18,000 dollars. Given this trend, the expert predicts that BTC could reach 122,000 dollars by February before "entering another consolidation phase."

It should be noted that on Monday, January 20, ahead of U.S. President Donald Trump’s inauguration, Bitcoin reached a new all-time high of 109,000 dollars.