Bitcoin Has 50% Chance to Exceed $140,000 by Month’s End
Economist Timothy Peterson suggests Bitcoin has a 50% chance to exceed $140,000 by month's end, supported by simulations based on a decade of price data. These models indicate:
- A 50% probability for Bitcoin to finish the month above $140,000
- A 43% likelihood it will be below $136,000
At the time of analysis, Bitcoin was at $121,200, requiring an 11% rise to reach $140,000.
Bitcoin reached an all-time high of $126,200 recently, beginning October at approximately $116,500. Historically, October averages 20% gains, while November is stronger, averaging 46% gains since 2013.
Data-Driven Forecasts
Peterson emphasizes forecasts are data-driven, removing emotional bias. Despite this, historical patterns don't always predict future movements as market reactions and policies can impact prices.
Market sentiment remains positive, with analysts suggesting potential for further gains as pressure builds. This optimism aligns with data-led predictions being monitored by traders.
Anthony Pompliano highlights on CNBC that continued monetary printing by governments could sustain Bitcoin's rally, connecting monetary policy to increased demand for Bitcoin.