Machine learning algorithm predicts Bitcoin price for January 31, 2025
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. Picks for you Is U.S healt...