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

Economist Timothy Peterson asserts that Bitcoin has a 50% chance of exceeding $140,000 this month, based on simulations utilizing a decade's worth of data. Peterson's analysis indicates that Bitcoin may need to achieve a 14.7% gain from its current price of $122,032 to hit the $140,000 mark, a figure that aligns closely with Bitcoin's historical October performance. The month of October has traditionally seen Bitcoin's average gains of approximately 20.75%, making it the second-best month for the cryptocurrency since 2013. Despite the projections, Peterson warns that Bitcoin may have already realized half of its expected gains for October. He emphasizes that his forecasts are based on historical data and are devoid of emotional influence, aiming to provide a clear, probabilistic outlook. Other analysts share an optimistic outlook for Bitcoin following its recent all-time highs, suggesting continued upward momentum. Peterson highlights the cyclical nature of markets during October, tied to institutional investment behaviors and fiscal planning cycles.

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