Russian Crypto Expert Predicts Bitcoin to Reach $70k-75k by End of October
Tim Alper is a British journalist and features writer who has worked at Cryptonews.com since 2018. He has written for media outlets such as the BBC, the Guardian, and Chosun Ilbo. He has also worked...
A Russian crypto expert has backed Bitcoin to reach $70k to $75k by the end of this month, following a recent price surge.
Bitcoin (BTC) began its ascent toward the $67,000 mark this week, with some hopeful of a bullish breakout.
The Russian newspaper Izvestia quoted Alexey Mokrov, the founder of Cryptobotpro, as stating on October 16 that the market is starting to “bring cheer” to traders. He said that BTC was now showing signs of “strength.”
Mokrov conceded that “the first month of the fall” had been “tough for Bitcoin miners.”
But, he said, October “seems to have decided to compensate for the losses and cheer up market participants somewhat,” adding:
“The market has strengthened.”
A Bitcoin rally is grabbing the spotlight in part because some investors view it as a sign that markets expect a US election victory for pro-crypto Republican candidate Donald Trump https://t.co/oSR9MFksFn
The expert claimed that BTC would continue its upward trend “in October.” And, he said, if “major players” make their presence felt on the market, “then by the end of October we will be able to see Bitcoin at $70–75,000.”
“Of course, there is always a chance that someone will start playing around with mining. And then we could see a correction to $60,000. But to be honest, predictability is a rarity in the world of crypto.”
The expert also made forecasts for the Ethereum (ETH) market, stating that favorable conditions could see the token’s price hit $3,100.
Mokrov explained that this would largely depend on “the demand for DeFi and NFTs,” which
Read more on cryptonews.com
