Positive comments on Bitcoin have been plentiful lately. For example, the head of financial giant Cantor Fitzgerald Howard Lutnick said the day before that BTC deserves the same treatment from regulators as gold or oil. At the same time, the manager has no doubts about the future prospects of digital assets.

Head of Cantor Fitzgerald Howard Lutnick

How much Bitcoin will grow to

Here is one of Bradford’s quotes published by The Block.

According to my current analysis, I believe we could see Bitcoin peak just below $200,000 in the next 18 months. This will probably be the high, but I also expect a sharp rise with a possible extended period of price appreciation before the market reverts to a bearish cycle.

Hourly chart of the Bitcoin exchange rate on the Binance exchange

The expert noted that the current duration of stability in the BTC price is a positive sign pointing to the possibility of a prolonged rise. However, Bradford emphasised that what happens in the digital asset niche is somehow dependent on macroeconomic factors.

Historically, after halving – i.e. a slowdown in the rate of issuance of new BTC as a reward to miners – there is a positive adjustment in the price of BTC. This is fuelled by capital flows and cycles within the US presidential election. The expert continues.

I think we will see notable growth after the election and through January, which should lead to significant margin expansion for miners with efficient cost structures.


Other markets are also influencing the cryptocurrency niche. For example, analysts believe the industry's growth over the past few days is a consequence of the situation on the Chinese stock market. The latter is now showing significant jumps due to the aggressive reduction of the base interest rate the day before and the introduction of various initiatives for economic stimulus.

For example, the Shanghai Composite index of the Shanghai Stock Exchange jumped by 8 per cent on Monday, which was the best result in the last sixteen years. Meanwhile, the Beijing 50 Index set a record, rising 23 per cent. At the same time, brokerage companies are recording huge demand from investors, who can also invest in digital assets.


Change in the share price of mining company CleanSpark

The upcoming US election will affect the price of BTC, but what matters here is not so much the outcome of the election itself, but the reduction of uncertainty after the election is over. In addition, Bradford expressed the opinion that the Federal Reserve was a bit late with the reduction of the base lending rate and will act more aggressively in the next 15-16 months.

This, in turn, will have a positive effect on the crypto market, because the lowering of the rate also reduces the pressure on the global economy and its subjects.

According to Bradford’s version, companies focused on BTC mining are currently undervalued because the infrastructure for mining pays off faster. He also highlighted that miners have lower capital costs and faster connection to power grids compared to the longer payback time for AI data centres. The time to connection and cash flow is measured in weeks, not years.

Bitcoin network hash rate changes

Success also depends on the right timing in the market. The executive explained CleanSpark’s strategy of selling bitcoins at peaks and hoarding them during trend downturns. In this way, since June 2023, the company has held 97 per cent of the mined BTC, increasing its reserves to almost 8 thousand BTC equivalent to $509 million. These coins are planned to be sold on bullrun to further grow the company without raising additional capital through stock sales.

According to Bradford, one of CleanSpark’s key advantages is acquiring smaller 25-75 megawatt facilities at less than $500,000 per megawatt, which is significantly cheaper than its competitors. This strategy has allowed the company to win contracts for 1 gigawatt of capacity in five U.S. states. The expert considers them undervalued by the market.

Cryptocurrency investors during the bullrun

Analysts at QCP Capital also shared their positivity towards Bitcoin’s future. They stated that the major cryptocurrency closed in the plus side of September, which is historically the worst month for Bitcoin. Here’s their commentary.

At the end of the third quarter, the stock and Bitcoin exceeded expectations by not succumbing to the usual September slump.


To recap, the month's outcome for BTC was a 7.29 percent jump. Along with that, Efirium and Solana jumped 3.56 and 18 percent, respectively, illustrating the trends in the blockchain industry.


The S&P 500 stock index rose about 1.5 per cent in September, and for the third quarter it was up 5.1 per cent. Such a result was the best for this period since 1997, which confirms the positivity in the stock market as well.

Bitcoin’s strength against fiat currencies

Positive results in September usually bode well for BTC’s growth in October, November and December. Since 2013, only twice – in 2014 and 2018 – has BTC ended October with negative results.


Zach Bradford's forecast may seem slightly embellished - primarily because of the duration of the current bullrun. Still, the cryptocurrency market usually sets a record a year and a half after a halving in the Bitcoin network. In this case, the last such procedure took place almost six months ago, while the head of CleanSpark expects the market to grow for another year and a half. However, in any case, we will have to see if he is wrong or relevant in practice.