Stunning $350,000 Bitcoin Price Prediction Shared by Jeremie Davinci
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
In a recently published tweet, Jeremie Davinci, an early Bitcoin adopter and cryptocurrency millionaire, has revealed the scenario how BTC can soar to roughly $350,000 without naming any particular time frames for that.
Davinci named an important Bitcoin metric he used while coming up with his Bitcoin price outlook.
Bitcoin can hit over 5x BTC mining cost, per Davinci
Davinci stated that currently it costs roughly $70,000 for miners to produce one Bitcoin, and they have better gear and often use cheap electricity for mining.
The crypto influencer revealed that in past bull markets, Bitcoin has managed to soar more than 5x the BTC mining cost. Therefore, taking into account that currently miners spend $70,000 to mine one BTC, the price of the largest cryptocurrency may skyrocket as high as $350,000 in the future if a bullish scenario described by Jeremie Davinci plays out. “Huge potential ahead!” he stated speaking about the Bitcoin price. At the time of writing this material, Bitcoin is changing hands at $94,420.
Bitcoin is crashing, great news, Robert Kiyosaki says
Earlier this week, the renowned investor and author of the popular book on finance managing skills “Rich Dad Poor Dad” Robert Kiyosaki took to the X platform to publicly celebrate the Bitcoin price crash as it went down below $96,000 from roughly $102,000.
Yuri MolchanBack then, Kiyosaki tweeted that he found the news about Bitcoin crashing to be great. The financial guru explained his joy, saying that Bitcoin got on sale and it was now possible to start buying it at a big discount.
He also reminded the community that almost 20 million Bitcoins out of 21 million have been mined already, which leaves less than 2 million BTC to be produced by miners. After the April 2024 halving, the Bitcoin block reward constitutes 3.125 BTC. The final Bitcoin, according to Satoshi’s plan, is to be mined in the year 2140.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
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