Russian Crypto Expert Forecasts Bitcoin Could Reach $70k to $75k by Month's End

Russian Crypto Expert Forecasts Bitcoin Could Reach $70k to $75k by Month's End

A prominent Russian cryptocurrency expert has projected that Bitcoin could surge to between $70,000 and $75,000 by the end of October following a recent uptick in its price. This optimism comes as Bitcoin (BTC) began its ascent toward the $67,000 mark this week, with traders increasingly hopeful for a bullish breakout.

In an interview with the Russian newspaper Izvestia, Alexey Mokrov, founder of Cryptobotpro, shared his insights on October 16, indicating that the market is beginning to “bring cheer” to traders. He emphasized that BTC is currently exhibiting signs of “strength,” suggesting that a continued upward trend is likely.

While Mokrov acknowledged that the beginning of the fall season posed challenges for Bitcoin miners, he noted that October seems poised to offset those losses and uplift market participants. He stated that if “major players” begin to engage more significantly with the market, Bitcoin could indeed reach the predicted range of $70,000 to $75,000 by the end of the month.

Mokrov didn't limit his predictions to Bitcoin alone; he also provided insights into the Ethereum (ETH) market. He suggested that under favorable conditions, Ethereum's price could potentially hit $3,100. However, he cautioned that this outcome largely hinges on sustained demand for decentralized finance (DeFi) projects and non-fungible tokens (NFTs), which predominantly operate on the Ethereum blockchain. If demand wanes, Mokrov warned that a decline to $2,400 would be "only a matter of time."

Furthermore, Mokrov addressed Solana (SOL), expressing optimism that if the network maintains stability, SOL prices could rise to $180. However, he cautioned that unforeseen circumstances could easily lead to a price drop to $140.

As the cryptocurrency market remains volatile, Mokrov's predictions reflect a growing sense of optimism among traders, particularly concerning Bitcoin's potential to achieve significant price milestones within the coming weeks.