Bitcoin's price has been recovering, rising from around $100,000 to $102,448, an increase of over 3.1%. It briefly reached a peak of $102,622 but couldn't sustain that level. The trading volume of Bitcoin has also increased by 5.5% to $61.2 billion in the past 24 hours. The increase in price has been attributed to the upcoming U.S. presidential inauguration and the potential for setting up a Bitcoin reserve. Large investors, or "whales," are playing a significant role in the rising price of Bitcoin. Short-term predictions suggest Bitcoin's price may struggle around $102,000 but could consolidate below $105,000. However, long-term forecasts indicate a bullish sentiment, with Bitcoin's price expected to reach $126,849 by February 16, 2025. Despite market volatility, it is currently seen as a good time to buy Bitcoin.



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