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October 2024 has seen a surge in Bitcoin’s price, sparking excitement among crypto traders. According to Alexey Mokrov, founder of Cryptobotpro, Bitcoin (BTC) could hit the $70,000 to $75,000 range before the end of the month, following a bullish trend that began earlier in October. With the cryptocurrency market gaining strength, many are hopeful for a breakout that could push Bitcoin into new highs, particularly after the market’s tough start to the fall.

As BTC edges closer to the $67,000 mark, Mokrov has confidently forecasted that Bitcoin will continue its upward trajectory throughout the month. However, uncertainty remains—especially given the unpredictable nature of the crypto market.

Is Bitcoin Headed to $75k by the End of October?

Mokrov noted that September was challenging for Bitcoin miners, with increased volatility impacting overall market confidence. However, he pointed out that the crypto market seems to have “decided to compensate for those losses,” bringing renewed optimism among traders and investors alike.

“The market has strengthened,” said Mokrov in an interview with the Russian newspaper Izvestia, adding that BTC is showing significant signs of recovery and resilience. He anticipates that if “major players” step in during October, we could see Bitcoin reach between $70,000 and $75,000 before the month ends.

Nevertheless, Mokrov also acknowledged the ever-present possibility of a market correction. “If someone starts playing around with mining, we could see Bitcoin dip back to $60,000,” he cautioned. He emphasized that predictability is a rarity in the world of crypto, which is subject to rapid shifts influenced by global events, market sentiment, and technological changes.

For more Bitcoin updates, check out CoinGecko.

Ethereum and Solana Rally: What’s Next for ETH and SOL?

While Bitcoin remains the star of the show, Mokrov also discussed the performance of Ethereum (ETH) and Solana (SOL). He predicted that favorable market conditions could push Ethereum’s price to ,100 by the end of October, largely due to the demand for decentralized finance (DeFi) and non-fungible tokens (NFTs).

However, the expert also warned that if the DeFi and NFT markets lose steam, Ethereum could retreat to around $2,400. This potential dip would be influenced by external factors such as declining demand for Ethereum-based projects.

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Solana, another high-potential altcoin, could see prices surge to $180, according to Mokrov’s predictions. But, like Ethereum, Solana’s future is also contingent on market stability. If unforeseen circumstances disrupt the network, Solana’s price could easily fall back to $140.

For more Ethereum and Solana forecasts, visit CoinMarketCap.

External Factors Impacting Crypto Prices

Mokrov and other experts have stressed the importance of macroeconomic and geopolitical factors in shaping crypto prices. Mokrov pointed out that the overall state of the economy in the U.S. and Europe is exerting significant pressure on the market, limiting cryptocurrency growth potential.

Other experts, like Dary McGovern, Chief Operating Officer of Xapo Bank, agree that global financial events are driving Bitcoin’s current price trends. McGovern noted that the world is witnessing an “increased adoption of Bitcoin,” with the current market cap sitting at $1.3 trillion.

He added that with Bitcoin’s total supply capped at 21 million, combined with growing demand, the potential for Bitcoin’s market cap to surpass that of gold is real, signaling significant upside potential for BTC in the long term. For McGovern, this pressure on the Federal Reserve to manage U.S. debt by debasing the dollar could catalyze Bitcoin’s price growth.

For insights on Bitcoin adoption and its market potential, check Xapo Bank’s analysis.

Long-term Bitcoin Growth Still Likely

This bullish sentiment is not new. Back in July 2024, Russian crypto expert Arseny Poyarkov, a member of the State Duma’s expert council on digital economy and blockchain technologies, predicted that Bitcoin would see inevitable long-term growth, despite mid-year slumps. Poyarkov cited inflationary pressures and U.S. and German sales of confiscated Bitcoin as reasons for the price dips earlier this year.

Now, as we approach the end of October, many believe that Bitcoin’s return to strength could solidify its position as a leading global asset.

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Crypto Alerts users know, staying vigilant and well-informed is key to navigating these uncertain times.

At Coin Push Crypto Alerts, we continue to monitor these developments and provide timely crypto signals to help our users navigate the fast-moving market. While we don’t offer buy, sell, or trading services, we ensure that you stay informed about major market shifts that could impact Bitcoin, Ethereum, altcoins, and the broader crypto ecosystem as we head toward the anticipated 2024 bull run.

Stay tuned for more updates and resources as we continue to explore the exciting world of Bitcoin, Ethereum, altcoins, and more!

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Disclaimer: The information provided in this article does not constitute investment advice, financial advice, trading advice, or any other advice, and should not be treated as such. Coin Push Crypto Alerts does not recommend buying, selling, or holding any cryptocurrency. Always conduct your due diligence and consult a financial advisor before making any investment decisions.

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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

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