Bitcoin Poised to Break $140,000 by October's End, Analyst Predicts
Bitcoin (BTC) is forecasted to surge past the formidable $140,000 mark before the close of October, according to a compelling short-term price prediction by crypto analyst and economist Timothy Peterson. Leveraging historical data and advanced empirical modeling, Peterson suggests a significant upward movement is increasingly probable for the leading cryptocurrency.
Short-Term Trajectory: A Strong October Rally
Peterson's analysis, shared on X (formerly Twitter), indicates a bullish trajectory for Bitcoin in October. His AI-based bootstrapped simulation chart, which draws on daily price data from October 2015 to 2024, reveals a 50% probability that BTC will conclude the month above $140,000. This represents a substantial 15% increase from its current levels around $121,000. While there's a 43% chance of the price finishing below $136,000 within the same timeframe, the overall outlook points to a gradual but confident climb. The model's 68% confidence interval largely holds above $130,000 throughout the predicted period, with a minimal 5% chance of falling below $110,000 or exceeding $170,000 by month-end. Historically, October has proven to be one of Bitcoin's strongest months, with specific dates like the 9th, 20th, 28th, and 29th showing gains over 70% of the time since 2015.
Long-Term Vision: $200,000 on the Horizon
Beyond the immediate forecast, Peterson also provided a long-term perspective on Bitcoin's price structure since 2022. While acknowledging he doesn't adhere strictly to traditional technical analysis, he emphasizes his belief in recurring market cycle patterns. His chart illustrates Bitcoin's consistent upward movement within a defined growth channel, signified by two parallel red trend lines, since the market's bottom. This cyclical model projects a potential ascent towards $200,000 within the next 170 days. Peterson assigns a "better than 50/50 chance" to this optimistic scenario, suggesting that current market conditions and historical recovery trends strongly support continued Bitcoin price appreciation well into 2026.
