{"id":10004,"date":"2025-01-28T06:34:14","date_gmt":"2025-01-28T06:34:14","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=10004"},"modified":"2025-01-28T06:34:14","modified_gmt":"2025-01-28T06:34:14","slug":"bitcoin-reclaims-103k-as-second-phase-of-price-discovery-begins-analyst","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=10004","title":{"rendered":"Bitcoin Reclaims $103K as Second Phase of Price Discovery Begins: Analyst"},"content":{"rendered":"<div>\n<p>Bitcoin has recovered from its twelve-day low of just below $98,000 on Monday to reach an intraday high of $103,100 during the Tuesday morning Asian trading session.\u00a0The asset only spent a few hours in the five-figure territory, finding solid support from which to bounce.<\/p>\n<p>On Jan. 28, analyst \u2018Rekt Capital\u2019 said that Bitcoin had completed its first price discovery uptrend and most likely completed its initial price discovery correction.<\/p>\n<p>\u201cBitcoin should be able to embark on its second price discovery uptrend to new highs,\u201d if history rhymes over the next two weeks, they added.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\"><a href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&amp;ref_src=twsrc%5Etfw\" data-wpel-link=\"external\" target=\"_blank\">#BTC<\/a><\/p>\n<p>Bitcoin has competed its 1st Price Discovery Uptrend<\/p>\n<p>BTC has most likely completed its 1st Price Discovery Correction<\/p>\n<p>History suggests over the next two weeks\u2026<\/p>\n<p>Bitcoin should be able to embark on its second Price Discovery Uptrend to new highs<a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" data-wpel-link=\"external\" target=\"_blank\">$BTC<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Crypto?src=hash&amp;ref_src=twsrc%5Etfw\" data-wpel-link=\"external\" target=\"_blank\">#Crypto<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\" data-wpel-link=\"external\" target=\"_blank\">#Bitcoin<\/a><\/p>\n<p>\u2014 Rekt Capital (@rektcapital) <a href=\"https:\/\/twitter.com\/rektcapital\/status\/1883984912816206283?ref_src=twsrc%5Etfw\" data-wpel-link=\"external\" target=\"_blank\">January 27, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2>Bitcoin Price Discovery<\/h2>\n<p>Price discovery is when buyers and sellers set the spot price or the fair price of an asset, and new territory is when BTC moves higher to mark new all-time highs.<\/p>\n<p>The analyst <a href=\"https:\/\/x.com\/rektcapital\/status\/1883991794503016592\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"external\">observed<\/a> that in week 14 of the 2017 cycle, Bitcoin was recovering from its first price discovery correction only to make new highs in week 16.<\/p>\n<p>In the same week of the 2021 cycle, BTC was still just bottoming on its first price discovery correction, only to make new highs in week 16, he added.<\/p>\n<p>It is the fourteenth week of the 2025 cycle right now, he said, with the implication that by mid-February, the second phase could begin, if history rhymes.<\/p>\n<p>The analyst also <a href=\"https:\/\/x.com\/rektcapital\/status\/1883986756095336825\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"external\">said<\/a> that it was still \u201crelatively early on\u201d in the Bitcoin \u201cparabolic phase\u201d of this cycle, which has historically lasted around 300 days on average. It is currently day 82 of this parabolic phase.<\/p>\n<p>Meanwhile, the crypto community is lamenting American TV personality Jim Cramer mentioning Bitcoin again. \u201cYou should own Bitcoin. Bitcoin is a great thing to have in your portfolio,\u201d he said on CNBC\u2019s Mad Money on Monday.<\/p>\n<p>Cramer is known for his controversial opinions on Bitcoin, which <a href=\"https:\/\/cryptopotato.com\/btc-crash-impending-jim-cramer-calls-bitcoin-a-winner\/\" data-wpel-link=\"internal\">change like the wind<\/a>, and his jinxing of markets when he makes another one of his predictions.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">JUST NOW \u2013 JIM CRAMER: \u201cyou should own Bitcoin, Bitcoin is a great thing to have in your portfolio\u201d<\/p>\n<p>oh no <a href=\"https:\/\/t.co\/m6IdAssu2G\" data-wpel-link=\"external\" target=\"_blank\">pic.twitter.com\/m6IdAssu2G<\/a><\/p>\n<p>\u2014 Inverse Cramer (@CramerTracker) <a href=\"https:\/\/twitter.com\/CramerTracker\/status\/1884062272609477088?ref_src=twsrc%5Etfw\" data-wpel-link=\"external\" target=\"_blank\">January 28, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2>Elsewhere on Crypto Markets<\/h2>\n<p>Total market capitalization is down slightly to $3.65 trillion despite Bitcoin\u2019s recovery, which means that the altcoins are still in pain.<\/p>\n<p><a href=\"https:\/\/cryptopotato.com\/bullish-signal-ethereum-sees-highest-surge-in-network-growth-since-october-2022\/\" data-wpel-link=\"internal\">Ethereum<\/a> dumped to $3,036 before recovering to reclaim $3,200, but it remains weak, having lost more than 6% so far this month.<\/p>\n<p>The rest of the altcoins started to recover <a href=\"https:\/\/cryptopotato.com\/crypto-markets-shed-250-billion-as-btc-plunged-to-11-day-low-market-watch\/\" data-wpel-link=\"internal\">yesterday\u2019s losses<\/a> during early trading in Asia on Tuesday morning,\u00a0with XRP reclaiming $3 and Solana approaching $240.<\/p>\n<p>The post <a href=\"https:\/\/cryptopotato.com\/bitcoin-reclaims-103k-as-second-phase-of-price-discovery-begins-analyst\/\" rel=\"nofollow\">Bitcoin Reclaims $103K as Second Phase of Price Discovery Begins: Analyst<\/a> appeared first on <a href=\"https:\/\/cryptopotato.com\/\" rel=\"nofollow\">CryptoPotato<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin has recovered from its twelve-day low of just below $98,000 on Monday to reach an intraday high of $103,100 during the Tuesday morning Asian trading session.\u00a0The asset only spent a few hours in the five-figure territory, finding solid support from which to bounce. On Jan. 28, analyst \u2018Rekt Capital\u2019 said that Bitcoin had completed [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-10004","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/10004","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10004"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/10004\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10004"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10004"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10004"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}