$BTC đ„đ„ Bitcoin to hit nearly $200,000 in 18 months, says CleanSpark CEO: đ€Ż
Volatility is expected to quiet down after the election, and upcoming rate cuts signal greater support for bitcoin in the short-term.
Within the next 18 months, the worldâs largest cryptocurrency may skyrocket to almost $200,000, according to Zach Bradford, the CEO of public bitcoin mining company CleanSpark.
During an interview with Bernsteinâs senior analyst Gautam Chhugani, Bradford highlighted upcoming price dynamics for the globeâs leading digital asset.
âBased on my current analysis, I believe we could see bitcoin peak just under $200,000 sometime in the next 18 months,â Bradford said. âThatâll likely be a peak. But I do think weâll see a rapid jump, and then hopefully an extended elongated period of it being up before we revisit a bear cycle.â
âOne positive sign is that bitcoinâs extended flat period shows that sustained upside may last longer as well. Of course, this is all subject to macro events and other factors,â Bradford added.
The mining CEO also posited that bitcoin would likely enjoy a bump after the November presidential election, as volatility would quiet down. Similarly, additional interest rate cuts by the U.S. Federal Reserve would likely help bitcoin, as more investors explore the asset during a period of lower interest rates. Traders are often incentivized to explore riskier assets like bitcoin â particularly if theyâre in search of higher returns â during periods of reduced risk.
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