Bitcoin’s AI Model Predicts Slow Recovery, Less Than 50% Chance to Hit $100K

Bitcoin (BTC) has experienced a significant price drop, retracting nearly 30% from its all-time high of $126,000. This decline is causing concerns about a potential bear market.

An AI-driven simulation by analyst Timothy Peterson suggests the Bitcoin bottom may have already been reached or could occur soon.
Peterson predicts a slow recovery towards the year's end, with less than a 50% chance of reaching $100,000 by December 31.
The model indicates a 15% chance of closing at approximately $84,500 and an 85% chance of finishing higher.

These estimates are based on seasonal averages and do not factor in broader economic changes that could affect Bitcoin's price.

Historically, Bitcoin often consolidates after major price movements, potentially stabilizing between $84,000 and $90,000, with $80,000 as critical support.

Fed’s December Rate Path

Investor sentiment is affected by Bitcoin trading below $90,000, currently around $88,900. Margin calls due to borrowed funds contribute to hesitancy in buying.
Upcoming economic data before Thanksgiving could impact the crypto market, especially if it influences the Federal Reserve's decision on interest rates in December.
If the Fed reduces rates, Bitcoin could benefit; maintaining rates might lead to further sell-offs.
Victoria Scholar highlights the importance of the $80,000 support level, warning that breaching it could strengthen bearish sentiments.