Expectations for a new ATH in Bitcoin, which started to rise after the FED's interest rate cut in September and challenged the historical data for September, continue to increase.
As investors’ expectations of $100,000 are revived, CleanSpark CEO Zach Bradford stated that he expects Bitcoin to reach a peak just below $200,000 this cycle.
What is the New ATH Target for Bitcoin?
Speaking to Bernstein, CleanSpark CEO Zach Bradford said he expects Bitcoin to reach a peak of around $200,000 within the next 18 months, The Block reported.
“Based on my current analysis, I believe we could see a peak in Bitcoin just below $200,000 in the next 18 months. That would likely be a top.
I think we will see a quick bounce to a new ATH and hopefully a long bullish period for Bitcoin before we re-enter the bear cycle that follows.
This bullish move and the positive sign for the ATH target has been Bitcoin's prolonged consolidation period. Prolonged consolidation also indicates that the rally could continue for a longer period of time.”
Stating that this rise depends on macro events and other factors, the famous CEO added that the Bitcoin price has historically tended to be positively affected by the halving and US election cycles and said, “I think we will start to see a meaningful increase in Bitcoin prices by January after the election.”
The CleanSpark CEO also said that the US presidential election in November affected the BTC price, but it was not about who won, but about the election ending.
Bradford finally stated that he thinks the FED is a little late in lowering interest rates and said that he expects the FED to be more aggressive and make more interest rate cuts in the next 15 to 16 months, and that these reductions are a good sign for Bitcoin.
*This is not investment advice.