Cleanspark CEO Zach Bradford has projected a significant rise in Bitcoin’s (CRYPTO:BTC) value, predicting a peak near $200,000 within the next 18 months.
In an interview with Bernstein, Bradford outlined his expectation for rapid growth followed by a period of stability, citing both Bitcoin’s current price trends and broader market forces.
“Based on my current analysis, I believe we could see Bitcoin peak just under $200,000 sometime in the next 18 months. That’ll likely be a peak,” Bradford stated.
He also pointed to Bitcoin’s price behavior as an encouraging sign for future growth, noting, “One positive sign is that Bitcoin’s extended flat period shows that sustained upside may last longer as well.
Of course, this is all subject to macro events and other factors.”
Bradford also highlighted the upcoming U.S. presidential election as a potential catalyst for Bitcoin’s price movement, expecting a significant surge in early 2025.
“I think we’ll start seeing a meaningful push in Bitcoin prices post-election through January, which should result in significant margin expansion for well-placed miners with efficient cost structures,” he said.
The Cleanspark CEO further emphasized the advantages of Bitcoin-only mining firms, arguing that companies like his, which focus solely on Bitcoin mining, are better positioned to capitalize on these market shifts.
He explained, “While some competitors are diversifying into AI, pure-play miners benefit from faster returns due to lower costs and more efficient operations.”
Bradford also discussed the importance of innovations like immersion cooling in enhancing efficiency and profitability for miners.
At press time, the Bitcoin price was $61,479.94.