Early Bitcoin user Jeremy DaVinci has shared his opinion on how the price of the digital currency might move in the future. Using his official X handle to converse, DaVinci emphasized the significant events happening in the crypto industry right now, focusing on the price of Bitcoin’s continued parabolic rise.
BTC price had a pullback earlier this month, but DaVinci pointed out that it has finished above the upper Bollinger Bands indicator for two months in a row. He said that this had happened before and the price of the coin went up by up to two times in just two months after the plan was confirmed.
Bitcoin’s Peaks And Future
As a YouTuber and a vocal backer of cryptocurrencies, Jeremy DaVinci has established an identity for himself as an avid supporter of Bitcoin. He is known in the industry as one of the first people to use the currency.
According to DaVinci’s most recent prediction, Bitcoin’s price could go over $140,000 within the next three months. This is in line with other market experts’ optimistic predictions.
Bitcoin has recently reached a string of all-time highs (ATH) over the last month. The price of the coin has since been corrected, but experts believe it remains in a phase of price discovery and could go up substantially more.
Statements about the price of BTC can change based on how the market is moving, but there are clear signs that bullish statements might come accurate. The opening of a spot Bitcoin Exchange-Traded Fund (ETF) market is seen as one of the most significant indications that the underlying cryptocurrency will continue to rise in value.
Since an immense amount of funds has been coming into crypto trading platforms, ETF makers have been acquiring the last bit of BTC that is still available. This has created a supply shortage that keeps prices moving upwards.
Also, the upcoming halving of Bitcoin, which is set to happen later this month, adds another positive factor to the rise in BTC prices. The coin could grow in value over the long term because the lower emission rate will work with the way the supply changes.
