Zach Bradford noted that the growth period of the first cryptocurrency is likely to be protracted, but much depends on macroeconomic factors.
“I believe Bitcoin will reach just below $200,000 within the next year and a half. This will most likely be the peak. We’ll see a sharp rise in price first in November, then in January, and then hopefully an extended period of growth before we return to a bearish period,” Bradford said.
According to him, who wins the US presidential elections in November is not as important as the fact that they are completed. This should reduce the level of uncertainty in the market and increase investor confidence in digital currencies.
After the price increase, the income of mining companies that have an efficient and flexible infrastructure and take into account the rising costs of equipment and electricity will increase, the expert said.
CleanSpark is one of the largest mining companies in the United States, its shares are traded on the NASDAQ exchange under the ticker CLSK, and its total mining capacity is 26 EH/s. On average, her devices mine up to 478 BTC per month.
The company has held 97% of the bitcoins mined since June 2023 and its reserves are approaching 8,000 BTC (more than $500 million). The company intends to sell them during future bull market periods to finance and expand infrastructure.
Earlier, experts from the trading platform DecenTrader reported that Bitcoin holds a key support level around $63,000, which means that the first cryptocurrency has a chance to start a bullish rally.
Source: Bits
I am an experienced journalist, writer, and editor with a passion for finance and business news. I have been working in the journalism field for over 6 years, covering a variety of topics from finance to technology. As an author at World Stock Market, I specialize in finance business-related topics.
