Davinci named an important Bitcoin metric he used while coming up with his Bitcoin price outlook.
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.
Back 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.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
