Bitcoin Reclaims $102K Analysts Say Price Discovery is Just Starting
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Bitcoin price discovery has only just begun, according to analysts, as the asset reclaims the $100,000 level.
Bitcoin “has only just started its price discovery phase,” crypto analyst ‘Daan Crypto Trades’ told his 390,000 followers on X on Jan. 7.
Price discovery occurs when an asset enters new territory and makes consecutive new all-time highs. At the time of writing, BTC was just 6% away from its Dec. 17 peak price of $108,135, according to CoinGecko.
It has gained more than 10% in a week and broke above the $100,000 level again during late trading on Jan. 6.
BTC hit an intraday high of $102,500 during early trading in Asia on Tuesday before falling back slightly.
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