Bitcoin Nears $90K, Eyes Set on $125K Next

- Bitcoin Breaks $89.9K During Weekly Trading Session - Setting a target of $125K based on Bayesian probability [Unblock Media] For the first time since December 2020, the price of Bitcoin has closed the weekly chart above $89,940, entering a strong price discovery phase. This illustrates BTC's bullish structure transitioning from a short-term to a long-term perspective. Several analysts believe that this trend will soon reach a six-figure price target. According to renowned market analyst Peter Brandt, Bitcoin tends to repeat bullish price action patterns in the "markup" phase of price increases. Citing the current movement surpassing previous peak price levels, he proposed a price target of $125,000 based on Bayesian probability. Bayesian probability is a method of determining conditional probabilities of future events based on past data sets. Brandt explained that following this approach, BTC could reach a peak of $125,000 by the start of 2024. Meanwhile, Bitcoin advocate and trader Titan of Crypto set a bullish target of $158,000 for BTC. He mentioned that the completion of the golden cross on BTC's weekly chart is a major factor for sustained bullishness, setting an initial target of $100,000 for the second bullish phase in 2024. Bitcoin recently formed a CME gap between $77,800 and $80,600. BTC rose more than 5% over the weekend, creating the CME gap on the daily chart on November 11th. This is the first CME gap on the daily chart since August 2024, and these types of gaps are likely to be filled. Therefore, if conditions change, Bitcoin could fall below $77,800 in the next few days. An anonymous market analyst, Scient, mentioned that BTC seems close to a local peak, predicting that the price might halt around $84,000 to $85,000, followed by a 7-10 day correction before rising again. It is important to pay attention to Bitcoin's market behavior. Similar CME gaps occurred in 2023, and after BTC surpassed resistance levels for a few months, they were not filled until January 2025. At that time, BTC prices rose an additional 23% from the CME gap. If a similar pattern develops, Bitcoin could continue its upward trend, reaching a new all-time high above $100,000. Additionally, the impact of regulatory risks, such as stricter regulations by the U.S. SEC, must be considered as a potential risk factor for further Bitcoin price predictions. According to Forbes, the recent volatility in the BTC market highlights the possibility that these regulatory risks could affect future price movements.