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<p class="is-style-lead">A senior Bitcoin mining executive expects prices to continue rising in the ongoing bull market cycle.&nbsp;</p> 
<p>In an interview with Bernstein, a major Wall Street firm, CleanSpark’s CEO predicted that Bitcoin (<a rel="" href="https://crypto.news/price/bitcoin/">BTC</a>) would rise to $200,000 in the next 18 months. If his view is correct, he expects the coin to rise by 210% from its current levels.</p> 
<h2 class="wp-block-heading" id="cleanspark-s-ceo-is-bullish-on-bitcoin">CleanSpark’s CEO is bullish on Bitcoin</h2> 
<p>Zachary Bradford cited several potential catalysts for Bitcoin, including Federal Reserve interest rate cuts, the conclusion of the U.S. general election, and the dynamics of the post-halving cycle, <a href="https://www.theblock.co/post/318647/cleanspark-ceo-bitcoin-200000-usd" target="_blank" rel="nofollow">according to The Block.</a></p> 
<p>He also expects that well-run, low-cost, pure-play mining companies will outperform firms like Core Scientific and TeraWulf, which are diversifying into artificial intelligence.</p> 
<p>Bradford’s statement is notable because he runs CleanSpark, the third-largest mining company in the industry in terms of market cap, after Marathon Digital and Core Scientific.</p> 
<p>The most recent results showed that CleanSpark’s <a href="https://s203.q4cdn.com/737227956/files/doc_presentations/2024/Sep/09/fy2024-q3-investor-presentation-september-1.pdf" target="_blank" rel="nofollow">revenue rose</a> to $289 million in the nine months to June, while its adjusted EBITDA rose to over $238 million.&nbsp;</p> 
<p>CleanSpark is also one of the largest Bitcoin holders in corporate America, with 7,558 coins worth $482 million on its balance sheet.</p> 
<p>Bradford joins other high-profile analysts who have delivered bullish statements on Bitcoin. In a recent CNBC interview, MicroStrategy’s founder, Michael Saylor, predicted that the coin would <a href="https://crypto.news/bitcoin-to-reach-13m-in-21-years-michael-saylor-predicts/" target="_blank">reach $13 million by 2045</a>. MicroStrategy owns over 252,000 Bitcoins, which would be worth over $3.2 trillion if it reaches his target level.</p> 
<p>BlackRock, the largest asset manager with over $10.4 trillion in assets, has also delivered a positive Bitcoin prediction. In a white paper, three senior executives argued that Bitcoin was an ideal asset for portfolio diversification.</p> 
<p> You might also like: <a rel="" href="https://crypto.news/blackrock-makes-its-case-for-bitcoin-as-its-price-stalls/"> Blackrock makes its case for Bitcoin as its price stalls </a> </p> 
<p>Ki Young Ju, the founder and CEO of CryptoQuant, also believes that Bitcoin is in the middle of a bull cycle that could push it higher.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr">Hey bears, I'm sorry, but <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#Bitcoin</a> is still in the middle of the bull cycle. <a rel="nofollow" href="https://t.co/QkaZx7wmAt" target="_blank">https://t.co/QkaZx7wmAt</a> <a rel="nofollow" href="https://t.co/8lkIiRn1W7" target="_blank">pic.twitter.com/8lkIiRn1W7</a></p>— Ki Young Ju (@ki_young_ju) <a href="https://twitter.com/ki_young_ju/status/1840693093362016487?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">September 30, 2024</a>
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  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
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<p>Odds of Bitcoin rising to a new all-time high have <a href="https://crypto.news/odds-of-bitcoin-price-soaring-to-a-new-all-time-high-are-rising-polymarket/" target="_blank">also jumped on Polymarket</a>, the fast-growing prediction platform.&nbsp;</p> 
<p> You might also like: <a rel="" href="https://crypto.news/bitcoin-could-surge-to-new-all-time-high-soon-analysts/"> Bitcoin poised for surge, analysts expect new all-time high </a> </p> 
<h2 class="wp-block-heading" id="bitcoin-needs-to-flip-key-resistance-level">Bitcoin needs to flip key resistance level</h2> 
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 <img loading="lazy" decoding="async" width="3574" height="1982" src="https://crypto.news/app/uploads/2024/09/Bitcoin-Price-13.png" alt="Bitcoin price" class="wp-image-14300661">
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  Bitcoin price chart | Source: <a href="https://www.tradingview.com/symbols/BTCUSD/?exchange=COINBASE" target="_blank" rel="nofollow">TradingView</a>
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<p>Bitcoin has formed some positive technical patterns. On the daily chart, it has formed an inverse head-and-shoulders pattern and remained above the 50-day and 200-day Exponential Moving Averages. It has also been forming a <a href="https://crypto.news/microstrategy-stock-rises-as-bitcoin-price-pierces-the-falling-wedge/" target="_blank">falling broadening wedge pattern</a> since March.&nbsp;</p> 
<p>However, the main challenge is that it has found a strong resistance point around the $68,000 level. It has failed to move above this trendline five times since March.</p> 
<p>Therefore, a break above that trendline will point to further upside, with the initial target being $73,777, its highest point this year.</p>

Bitcoin price could jump by 210%: mining executive predicts

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