30s Summary

Bitcoin’s value is experiencing a significant rise, with predictions it could hit $125,000 by end of 2024 according to market analyst Peter Brandt. His prediction uses Bayesian probability, considering past successful trends to calculate future possibilities. Another analyst, Titan of Crypto, proposes a potential target of $158,000 in 2024. However, recent trends reveal a CME gap between $77,800 and $80,600, potentially indicating a value drop before another surge. Despite this, past trends have shown Bitcoin’s value increasing, even with CME gaps. Investing risks should be considered before decision making.

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Bitcoin’s price has been on fire since December 2020, breaking past $80,000 in no time. Thanks to this bullish trend, everyone’s eyes are on the potential of six-figure targets in the near future.

Here’s an exciting prediction: Bitcoin could hit $125,000 by New Year’s Eve! This prediction comes from Peter Brandt, a well-known market analyst. He noticed that Bitcoin has a habit of repeating its successful trends when it goes on a big price jump. Using what’s called Bayesian probability, a method that uses past data to calculate future possibilities, he’s suggesting that $125,000 could be a reality for Bitcoin soon.

In simpler terms, Bayesian probability is a way for traders to take on unsure price ranges by setting target prices based on how the asset performed in similar past situations. For instance, Brandt believes that Bitcoin’s first quarter of 2024 can be replicated in the last quarter, leading to that potential $125,000 high by the close of 2024.

Another Bitcoin enthusiast, Titan of Crypto, suggested Bitcoin’s target could even reach $158,000. Looking at Bitcoin’s recent chart growth, Titan believes Bitcoin will comfortably reach $100,000 in its second boom phase in 2024.

Over the past weekend, Bitcoin’s price increased by more than 5%, opening up a gap between $77,800 and $80,600 on its daily price chart. This is known as a CME gap. Bit of background for newbies: a CME gap is a spot on a chart where no trading has occurred. It’s a fairly common occurrence, but they usually get filled.

So, if Bitcoin’s market condition changes, we could see it drop to $77,800 or less in the coming days. Scient, another analyst, hinted that Bitcoin could be close to a peak in its price, followed by a pause before it shoots up again.

But, remember, Bitcoin has a habit of bucking trends. Even when there’s been a CME gap in the past, Bitcoin’s price has still increased. Back in 2023, it opened up a small CME gap when it broke past multiple resistance levels and achieved a yearly high. That particular CME gap wasn’t filled until January 2025, during which Bitcoin’s prices surged another 23% from that gap.

So, if all goes well and history repeats itself, we might see Bitcoin soaring to new heights, even past $100,000.

But remember, investing always comes with risks. Always do your research before deciding where to put your money.