Cleanspark CLSK has recently acquired seven new mining sites in Tennessee, boosting its hash rate by 22%. Cleanspark is one of a handful of publicly traded stocks that performs like an altcoin. This basket includes the obvious stocks like COIN, other miners, HOOD, and more obscure picks like GLXY. When these stocks are rallying, TradFi has a serious appetite for risk.
A Bitcoin miner that has been in business since 2020 and a company with one of the lowest energy costs per mined BTC is expanding. While traders are panicking over short-term time frames, Cleanspark is going all in on expansion. Cleanspark has been in crypto markets longer than many participants and is positioning itself for a big BTC rally.
The signal is clear, and with one of BTC’s largest miners acquiring new sites, analysts gave fresh price predictions for BTC, the king of crypto, and Bitcoin Dogs, the leading BTC beta trade.
Cleanspark continues growth eyeing higher BTC price
Cleanspark has been bidding on the BTC capitulation and finally agreed on acquiring seven new sites in Knoxville, Tennessee. These sites will provide a juicy 22% boost to the company’s current hash rate, and Cleanspark is paying $27.5 million in cash. This is only the most recent gambit by Cleanspark to expand its hash rate, and in August, it mined 478 Bitcoin.
Miners stockpiling BTC means they expect higher prices. Bitcoin miners must have a higher degree of accuracy than ordinary traders. If they sold the lows, they would end up bankrupt. Aggressive expansion from BTC miners is an early signal for anyone paying attention that things are about to get exciting.
Bitcoin price predictions Q4
Bernstein analysts gave their forecasts, predicting two targets by Q4. In the event of a Trump victory, they predict BTC trading at over $100,000, and in the event of a Kamala victory, a more measured range of $80,000 to $90,000 by the end of Q4.
Max Keiser weighed in with a $200,000 price prediction by the end of 2024, and on the more extended range, investors like Cathie Wood forecast BTC trading at well over $1 million by 2030. While investors and analysts may disagree on specifics, they all expect BTC to trade much higher in the next quarter.
Bitcoin Dogs (0DOG) Q4 price prediction
Bitcoin Dogs has attracted the most aggressive price predictions, with senior analysts forecasting that 0DOG could easily trade 100X higher than its current valuation. As the first ICO on Bitcoin, it has growing historical significance, and being the leading meme coin on crypto’s biggest network automatically soft pegs the price of 0DOG to BTC’s price.
When Bitcoin starts flying, you can expect fireworks from Bitcoin Dogs. Due to its smaller market cap, it should fly way more aggressively than Bitcoin, and regardless of the blockchain, the trade remains the same. Bullish on SOL? Buy WIF. It is a higher beta. Bullish on BTC? Buy 0DOG. It is the higher beta.
With meme coins expected to fill the boots of the last cycle’s layer one trade, the upside for these assets is practically uncapped. Bitcoin Dogs’ play-to-earn Telegram game is its significant catalyst outside of BTC price appreciation, general FOMO, and market excitement. The sensational success of Telegram games has been this year’s most unexpected trend, with games like Hamster Kombat quickly notching over 300 million users.
The Bitcoin Dogs’ game has been in production since January of this year, and beta testers reported it reminded them of Tamagotchi and was leagues ahead of anything currently available on the market. If this game sends Bitcoin Dogs viral, the current 100X price predictions could quickly prove too conservative.
One thing is sure. Q4 has plenty of fireworks waiting in the wings. Bitcoin miners are expanding, optimum conditions for risk assets are emerging, and BTC wants to push higher. Everything points to 0DOG trading significantly higher in the next six months.
Visit the official Bitcoin Dogs website to learn more.
