‘Hundreds of simulations’ pin Bitcoin at 50% odds of $140K this month

Based on Bitcoin’s price at the start of October, a $140,000 price tag by the end of the month is consistent with its average gains in October over the years.

Bitcoin has a 50% probability of surpassing $140,000 this month, according to simulations using data from the past decade, says economist Timothy Peterson.

“There is a 50% chance Bitcoin finishes the month above $140k,” Peterson said in an X post on Wednesday. “But there is a 43% chance Bitcoin finishes below $136k,” he added. 

Bitcoin (BTC) would need to gain about 14.7% to reach $140,000 at its current price of $122,032, which has cooled after the original cryptocurrency set a new all-time high of $126,200 on Monday, according to CoinMarketCap.

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