Crypto influencer Jeremie Davinci predicts Bitcoin could reach $350,000, citing its historical correlation with mining costs and increasing institutional interest.
A crypto influencer and early adopter of Bitcoin $94,989, Jeremie Davinci, has made a bold statement about how much Bitcoin will cost in the future.
He thinks the price of Bitcoin could go up to $350,000, but he didn’t say when he thought this would happen. His research is based on how Bitcoin has done in the past and how mining costs have changed over time.
Davinci’s guess comes from the fact that Bitcoin’s market value and mining prices are closely linked. At the moment, mining one Bitcoin costs around $70,000.
He thinks that if past trends continue, Bitcoin could actually hit $350,000. This shows how unique Bitcoin is as a digital asset that is both valuable and hard to get.
Big companies like BlackRock, MicroStrategy, and Fidelity have bought $100 billion worth of Bitcoin, which means that institutions are becoming more interested in the currency. These big purchases show that people are sure Bitcoin will grow in the long run.
Jeremie Davinci Prediction on Bitcoin
According to Jeremie Davinci’s prediction, things will get better, but Bitcoin’s recent behavior has been unstable. BTC dropped from $102,000 to below $96,000 last week. Robert Kiyosaki, an investor, sees this drop as a chance to buy more at a lower price.
Analysts also like the “buy on dips” strategy, which uses past trends and present market signals. CryptoQuant’s Spent Output Profit Ratio (SOPR) indicator is at 0.987 right now, which means that short-term Bitcoin users are selling at a loss.
CryptoQuant analyst MAC.D says that these short-term investors’ problems usually mean that the market is about to rebound. At the time of this writing, Bitcoin is trading around $94,100, showing that it is strong even after short-term drops.
Since almost 20 million Bitcoins have already been mined, the small number that are left adds to the asset’s growing scarcity. After the most recent split event in April 2024, miners got 3.125 BTC for each block they mined.
Every four years, there is an event called a “halving,” which slows down the production of new Bitcoins and limits the total number of coins in circulation to 21 million.
Due to less supply pressure, Bitcoin prices have tended to rise after splitting events in the past. These factors are very important in determining Bitcoin’s price trends because they make investors think about long-term possibilities.
