Pakinomist – In a recently published tweet, Jeremie Davinci, an early adopter and cryptocurrency millionaire, has revealed the scenario how BTC can soar to around $350,000 without mentioning any specific time frames for it.
Davinci named a key Bitcoin metric he used when coming up with his Bitcoin price forecast.
Bitcoin can hit over 5x BTC mining cost per Davinci
Davinci stated that it currently costs about $70,000 for miners to produce a Bitcoin, and they have better gear and often use cheap electricity for mining.
Crypto influencer revealed that in past bull markets, Bitcoin has managed to rise more than 5 times the BTC mining cost. Considering that miners currently spend $70,000 to mine a BTC, the price of the largest cryptocurrency could rise as high as $350,000 in the future if a bullish scenario described by Jeremie Davinci plays out. “Huge potential ahead!” he stated that he was talking about the Bitcoin price. At the time of writing this material, Bitcoin is changing hands at $94,420.
Bitcoin is going down, good news, says Robert Kiyosaki
Earlier this week, famed investor and author of the popular book on financial management skills “Rich Dad Poor Dad” Robert Kiyosaki took to the X platform to publicly celebrate the Bitcoin price crash as it fell below $96,000 from around $102,000.
At the time, Kiyosaki tweeted that he found the news of the Bitcoin crash to be amazing. The financial guru explained his joy, saying that Bitcoin went on sale and it was now possible to start buying it at a huge discount.
He also reminded the community that almost 20 million Bitcoins out of 21 million have already been mined, leaving less than 2 million BTC to be produced by miners. After the April 2024 halving, the Bitcoin block reward is 3,125 BTC. The final Bitcoin, according to Satoshi’s plan, must be mined in the year 2140.
