Bitcoin To $350,000? Top Crypto Influencer Makes Bold Prediction

Christian Encila

6 months ago

3 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Created by industry experts and meticulously reviewed

The highest standards in reporting and publishing

How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Jeremie Davinci, a prominent player in the cryptocurrency domain, has garnered attention with his audacious forecast that Bitcoin may attain an extraordinary value of $350,000. This forecast, lately disseminated on social media, is predicated on historical trends and the present dynamics of Bitcoin mining expenses.

The current expense for miners to generate one Bitcoin is approximately $70,000. Davinci indicates that historically, under positive market conditions, Bitcoin has frequently surpassed its mining cost by a ratio of five. This association indicates that, if historical trends persist, a price of $350,000 is feasible.

The Cost Factor Of Mining

The basis of Davinci’s approach is the relationship between mining costs and market price of Bitcoin. The mining process requires electricity and advanced technology among other resources. These costs build the basis for Bitcoin’s value as they rise. Currently spending over $70,000 to extract one BTC, miners may open the path for significant price increases in the future, claims Davinci.

It costs miners about $70k to produce 1 #Bitcoin now, less with better hardware or cheap energy. In past bull markets, Bitcoin’s price has hit over 5x the mining cost. Huge potential ahead!

— Davinci Jeremie (@Davincij15) January 11, 2025

He underscores that this forecast lacks a defined timescale and instead embodies an optimistic perspective grounded in historical performance. He asserted, “Significant potential lies ahead!” in reference to Bitcoin’s future price trajectory.

Bitcoin: Institutional Impact And Market Forces

Davinci’s prognosis is set against a landscape of growing institutional interest in Bitcoin. Prominent corporations have commenced the acquisition of substantial quantities of BTC, indicating assurance in its long-term growth prospects. Companies such as BlackRock and MicroStrategy have made substantial investments in Bitcoin, contributing to the optimistic feeling around the cryptocurrency.

BTC is now trading at $94,791. Chart: TradingView

In addition, the recent halving event in April 2024 cut the block payment for miners to 3.125 BTC. This made it harder for new coins to enter the market. Around 19.9 million Bitcoins have already been mined, leaving less than 2 million to be made. This could cause prices to rise as long as people want them.

A Prudent Optimism

Although Davinci’s projection is undeniably ambitious, it is crucial to regard such forecasts with prudence. The bitcoin market is famously unstable and can undergo significant fluctuations in value. Analysts have observed that although Bitcoin may realize considerable increases over time, it has also had huge corrections in previous cycles.

As we approach 2025 and beyond, numerous investors are closely observing how these dynamics will develop. The interplay between mining expenses, institutional acceptance, and market mood will be a major determining factor in ascertaining the feasibility of Davinci’s prediction.

Bold predictions like Jeremie Davinci’s are being debated as the crypto market continues to evolve. His forecast of Bitcoin reaching $350,000 reflects both reliance on historical trends and a sense of optimism.

Featured image from Reuters, chart from TradingView

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.