As the Bitcoin price slides back to 2019-20 highs, two professionals say the decline will continue, but the leading crypto will gain strength from it.
The name who bought Bitcoin for 1 dollar said that it is the only solution against inflation.
DaVinci Jeremie, known for his videos in the early days of Bitcoin, says he has been holding Bitcoin for over a decade because it is “a monetary system that governments cannot stop.” The legendary Bitcoin investor called out from new interviews as the price hovers around $16,500. He stressed the “unstoppability” of Bitcoin, telling Kitco:
With Bitcoin, you can instantly transfer your wealth to anyone anywhere in the world without a third party.
According to Jeremie, these features of Bitcoin will come to the fore when governments start to implement CBDCs:
I think governments will create their own cryptocurrencies and make it impossible for people to [transaction] by blocking what they buy and telling them what they can and cannot buy.
Crypto winter could last until this date
Jeremie bases his passion for Bitcoin on the current banking system, which he says is “slavery.” It also intends the system of “minting money” as destructive as it steals people’s wealth. The early BTC investor adds that printing money causes inflation that depletes people’s wealth.
Jeremie is then worth cheating in scarce assets like Bicoin. He said that gold and silver are subject to manipulation. He suggested that the Bitcoin price was manipulated through ETFs. The famous investor recommends using the buy and sell orders on the exchange to change the Bitcoin price during the day trader transaction. He predicts that Bitcoin will eventually reach $100,000 as it reveals a bottom of $12,000:
I think we’ll probably see $12,000. Until the Bitcoin halving, the crypto winter really won’t fade until 2024.
Daniele Bernardi predicts Bitcoin will hit $14,500
Another professional name appearing on Kitco screens, Daniele Bernardi, predicted that Bitcoin would fall as low as $12,000, unlike Jeremie. In the current bear market, which has witnessed the collapse of Terra LUNA-UST, Celsius, and most recently, FTX, the price of Bitcoin has dropped 65% from last year. Bernardi is currently hovering around $16,500, expecting more declines. But he says this bottom will only last for a few days. He says we’ll see “a return to growth next year.”
Daniele Bernardi bases his predictions on a mathematical model
Bernardi’s company publishes new forecasts based on mathematical analysis that develops computer models using historical price data. Looking at Bitcoin’s halving cycles, he states that it has an extremely repetitive cycle. Bernardi said that his method for predicting future price movements does not depend solely on “technical” factors. He also stated that it relies on “behavioral” factors:
Bitcoin has a hard time finding a fair value price because for most people it’s all about the sentiment. If they are afraid, they will sell. If they are confident and think Bitcoin can grow, they will start buying.
Bernardi added that along with the above, Bitcoin price is affected by observable patterns.
When is the next Bitcoin halving?
The block reward miners receive in Bitcoin is halved every four years. The next halving is expected to take place in April 2024. Since the value of Bitcoin increases several months after each halcing, Bernardi recommends buying just before halcing to maximize returns. As you follow on Kriptokoin.com, BTC price is currently trading in the $ 16,500 region.
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