Bitcoin $140K Odds at 50% for October: Economist

Bitcoin has a 50% probability of surpassing $140,000 this month, according to economist Timothy Peterson, based on simulations utilizing data from the past decade. Peterson mentioned that a rise to this price from the current level of approximately $122,032 would require a gain of about 14.7%. He emphasized that his prediction is grounded in real data rather than personal bias, highlighting that historical trends show October typically yields significant gains for Bitcoin, with an average increase of 20.75%. While Peterson's simulation suggests that half of Bitcoin's anticipated October gains might already have occurred, other analysts remain bullish, believing Bitcoin could retest and surpass previous highs. He pointed out that October is particularly noteworthy as it often marks the beginning of institutional capital cycles, impacting market behavior significantly, despite past deviations from expected trends. Meanwhile, broader market confidence appears strong following Bitcoin's recent all-time high, with some analysts signaling continued upward momentum for the cryptocurrency in the near term.

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