[Mining executives predict that Bitcoin prices may rise by 210%]
A Bitcoin mining executive predicts that Bitcoin prices will continue to rise during the current bull market cycle. In an interview with Bernstein, CleanSpark CEO predicted that Bitcoin (BTC) could rise to $200,000 in the next 18 months, which would mean a 210% increase from current prices.
He mentioned that factors driving Bitcoin’s rise include the Federal Reserve’s interest rate cut policy, the end of the U.S. election, and the cyclical impact after Bitcoin’s halving. Bradford also believes that well-run mining companies will outperform companies involved in the artificial intelligence industry, such as Core Scientific and TeraWulf.
CleanSpark is the third largest Bitcoin mining company in the world, holding 7,558 Bitcoins worth $482 million. Bradford’s prediction is in line with other analysts, such as MicroStrategy founder Michael Saylor, who predicts Bitcoin will reach $13 million by 2045.
Additionally, BlackRock and CryptoQuant are also optimistic about Bitcoin, considering it an ideal asset for investment portfolios and within a bull cycle. Technical analysis shows that Bitcoin has formed an "inverse head and shoulders" and "expanding function wedge" pattern, and if it can break through the resistance level of $68,000, it may rise further to $73,777.
