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

Bitcoin has a 50% probability of exceeding $140,000 by the month-end, according to economist Timothy Peterson, who based his simulation on data from the past decade. The current price of Bitcoin is around $122,032, requiring a 14.7% gain to reach the $140,000 mark. Peterson suggests that half of Bitcoin’s potential gains for October may have already been realized, as the cryptocurrency typically performs well during this month, historically showing average gains of 20.75%. The simulations purely rely on historical price data, aiming to present an unbiased probability of where Bitcoin's value is headed. Despite Peterson's calculated projections, historical patterns indicate that Bitcoin can sometimes defy expectations, making predictions uncertain. Analysts remain optimistic about Bitcoin’s trajectory, as it recently set a new all-time high. Several analysts believe that market conditions could lead to further increases, particularly as October oversees cyclical changes in liquidity and institutional investment strategies.

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