A Russian crypto expert has forecasted that Bitcoin (BTC) could reach $70,000 to $75,000 by the end of October 2024, following a recent price surge. According to Alexey Mokrov, founder of Cryptobotpro, Bitcoin’s market is showing renewed strength, and traders can expect positive trends in the coming weeks.
Bitcoin’s Upward Momentum
In a statement published by Izvestia on October 16, Mokrov noted that despite a challenging September for Bitcoin miners, October has brought more favorable conditions. He emphasized that if “major players” become active in the market, BTC could reach $70K-$75K by the end of the month. However, Mokrov cautioned that market volatility remains a risk, and a correction to $60,000 is possible.
Mokrov attributed part of Bitcoin’s rally to speculation that markets are anticipating a pro-crypto win in the U.S. presidential election, with Donald Trump leading the race.
Ethereum and Solana Also See Gains
Mokrov also shared insights on Ethereum (ETH) and Solana (SOL), predicting Ethereum could hit $3,100 if demand for DeFi and NFTs remains high. If demand cools, a rollback to $2,400 is expected. As for Solana, Mokrov forecasted prices could rise to $180, provided the network remains stable, but unforeseen issues could drop it to $140.
Bitcoin’s Broader Market Impact
Other crypto experts echoed Mokrov’s optimism. Dary McGovern, Chief Operating Officer of Xapo Bank, highlighted Bitcoin’s increased global adoption and its current market cap of $1.3 trillion. McGovern suggested Bitcoin’s limited supply and growing demand could eventually push its market cap past that of gold, further driving price growth.
Earlier in July, Arseny Poyarkov, a member of the State Duma’s expert council, indicated that Bitcoin’s price would face continued inflationary pressure but anticipated long-term growth, despite market dips earlier in the year.
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