Recently, a well-known economist made a striking prediction: the price of Bitcoin could reach a high of $140,000 by the end of this month. This prediction is not a baseless assumption, but is based on an in-depth analysis of Bitcoin's price data over the past decade and a large number of statistical simulations.

Currently, the Bitcoin price hovers around $122,000. To reach the target of $140,000, it needs to rise by about 14.7%. While this may seem like a substantial increase, considering that October is typically regarded as Bitcoin's 'golden month', this target does not seem out of reach. Historical data shows that the average increase of Bitcoin in October is around 20.7%, making the prediction of $140,000 appear more credible.

The economist analyzes that several factors may drive Bitcoin stronger in October. First, the rebalancing of funds in the third quarter has concluded, and institutional investors are starting to prepare for year-end financial reports. Second, the overall market risk appetite may rebound. These factors together create a favorable market environment for Bitcoin.

However, we should not overlook the market's uncertainty. Despite the overall bullish trend, a pullback of about 5% may still occur in the short term. Currently, Bitcoin's key support level is at $120,899, while the main resistance level is at $124,148. If it can break through $126,000, Bitcoin may welcome a new round of increases.

While this prediction is exciting, investors must remain cautious. The cryptocurrency market has always been highly volatile, and any prediction carries uncertainty. Regardless, October will undoubtedly be a month that Bitcoin investors pay close attention to.