Bitcoin has a 50% chance of hitting $140,000 this month, says economist Timothy Peterson. BTC needs to gain 14.7% from its current price of $122,032. October has been the second-best month for Bitcoin since 2013, with typical gains of 20.75%.

Peterson’s prediction is based on simulations using real data, not human emotion. Since 2013, November has been Bitcoin’s best-performing month, with average gains of 46.02%. The forecast aims to avoid bias and noise that influences short-term sentiment.

Crypto analysts anticipate Bitcoin to move higher after reaching an all-time high of $126,200. Analysts believe Bitcoin is retesting previous all-time highs and may continue to rise. Markets are cyclical, influenced by liquidity, sentiment, and positioning, especially in October.

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