Bitcoin (BTC) Price to Peak at Nearly $200,000 Within the Next 18 Months, Predicts CleanSpark CEO

Bitcoin might notch a new all-time high within the coming months.

As Q3 comes to a close, there is still some uncertainty about whether Bitcoin will reach six figures in this cycle. However, according to a crypto mining executive, BTC could still reach new all-time highs.

In a recent interview, CleanSpark CEO Zach Bradford said he expects the price of the flagship cryptocurrency, Bitcoin (BTC), to peak at nearly $200,000 within the next 18 months.

Bitcoin price to benefit from upcoming U.S. presidential election

Bitcoin could hit a new all-time high in the coming months.

Speaking to analysts at brokerage firm Bernstein, CleanSpark’s Zach Bradford said this bullish breakout will likely begin following the U.S. presidential election in November.

“I believe we could see Bitcoin peak just under $200,000 sometime in the next 18 months,” he told Bernstein’s Gautam Chhugani, adding that the upcoming U.S. presidential election could play a major role in spurring this bullish upswing. “It’s less about who wins and more about the election being over, which brings certainty,” he said.

Bradford explained that the post-election period usually brings stability, removing a layer of market uncertainty and creating an environment that is favorable to Bitcoin’s growth.

The pundit believes that Bitcoin will see a rapid rally and then a prolonged bull run before finally entering a bear cycle:

“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.”

Post-halving periods have also typically seen an upward adjustment in Bitcoin’s price, fueled by capital flows and election cycles, the CleanSpark boss added. “I believe we’ll start seeing a meaningful push in Bitcoin prices post-election through January, which should result in significant margin expansion for well-place miners with efficient cost structures.”

Bitcoin over AI

Bradford also noted that CleanSpark’s strategic focus is on Bitcoin mining, adding that he believes the opportunity in the top crypto is immediate compared to other emerging technologies, like artificial intelligence (AI).

He pointed out that Bitcoin mining infrastructure pays back faster, with revenues starting in weeks rather than years.

Bradford then revealed CleanSpark’s strategy of selling their Bitcoin holdings near peaks and accumulating their mined BTC during downturns. According to him, the firm has held about 97% of its mined BTC since June last year, with its stash of the king coin now approaching 8,000 BTC (or about $508 million). He added that the Bitcoin miner plans to sell some of its BTC in future bull markets to fund non-dilutive growth.

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