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The cryptocurrency increased by 0.32% in 24 hours and reached a maximum of $ 4.091.06 on Sunday, January 6th. Tuesday reached $ 4,109.02 and the lowest fell from Sunday to $ 3.997.21, according to CoinMarketCap. The January performance marks a decidedly more positive return for Bitcoin, which fell about 80% from its all-time high in December 2017.
The fluctuating price per token was the norm for cryptocurrency, which has fallen by almost 50 percent in the last four months.
Despite the upturn in the value of Bitcoin, analysts are doubtful 2019 will be the year when the cryptocurrency will return at the latest in 2017.
Clement Thibault, Investing.com senior analyst told Express.co.uk: "There is little chance that a cryptocurrency will reach a new all-time high in 2019.
"The explosive bubble that once brought Bitcoin to $ 20,000 and Ethereum to nearly $ 1500 is a distant memory of Bitcoin hovering around $ 3,800 while Ethereal hovers around $ 150.
"It is simply unreasonable to expect such a big turnaround in such a short period of time."
But Thibault added: "Even if the encrypted prices are falling, the crypto-enthusiasts have not given up the business class, there are still many development teams working to build the infrastructure necessary for cryptocurrencies, which will allow in Bitcoin in particular, to prosper.
"A new historical maximum for cryptocurrencies will occur in two to three years, when an improved technology can guarantee traditional adoption and daily usability, or when enough new money enters the arena and it stimulates a new craze for cryptocurrencies ".
Nicholas Cawley, a Daily FX analyst, said the cryptocurrency could fall further before Bitcoin pushes towards the $ 7 to $ 8,000 range.
He told Express.co.uk: "While BTC lost over 80% last year, there may still be a further depletion here before the price stabilizes.
"In the rankings September 2017 has fluctuated to $ 2,970 and the low in July 2017 to $ 1,790 has realistic goals.
"If these targets were hit, I would expect many" loose holders "to finally leave Bitcoin, leaving the way for BTC to push higher and lower towards the $ 7,000 to $ 8,000 range."
Mr Cawley said that a number of other alternative currencies could push interest in Bitcoin and the operators still interested in the encrypted market, investing money in the "market leader".
"Bitcoin will remain market No. 1 next year and its market dominance will grow from its current 52 percent to over 65 or maybe more."
Other analysts have examined the scores of daily Bitcoin sentiment, which examine the conversation on Twitter in the last 24 hours.
Up until now it has been positive until 2019 and this could suggest further gains for Bitcoin.
Joshua Frank, co-founder of the cryptanalysis analysis platform TheTIE.io, said: "We have seen that the daily sentiment peaked on 4 January and while it slightly decreased, it remained positive.
"Given the historical correlation between bitcoin sentiment and price, this would suggest further gains for cryptocurrency."
