Analyst Regrets Not Buying BTC at $1 as Bitcoin Price Struggles Around $60K

Bitcoin price bounced off the $57,000 support on September 2 and has been steadily rising since. Despite this upward movement, the asset remains in a consolidation phase, signaling relative stability with hints of a bullish market, including rising prices and growing investor confidence.

As the price of Bitcoin hovers around the $60,000 mark, this period of consolidation serves as a reminder of the digital asset’s remarkable gains over the years. Davinci Jeremie, a well-known Bitcoin evangelist and early investor, recently took to X (formerly Twitter) to express his regret for not buying more Bitcoin when it was priced at just $1. His reflection on missed opportunities strikes a chord with many in the crypto community, particularly as Bitcoin continues to navigate its current price challenges.

Davinci Jeremie Visionary Call on Future Bitcoin Price

Davinci Jeremie, a famous Bitcoin evangelist and investor, took to X to voice his regret about not repurchasing more BTC when the price was still low.

I could have owned 100,000 #BTC but I didn’t go all in. I regret that.

— Davinci Jeremie (@Davincij15) September 2, 2024

Back in 2011, when Bitcoin was around $116, Davinci’s YouTube channel urged viewers to buy. Jeremie still urges people to buy Bitcoin today, even though the asset has surged by over 9,000,000%. 

Jeremie made the call after a thorough analysis of Bitcoin’s whitepaper and source code, which convinced him of its immense potential. Eleven years later, the Bitcoin price is trading just below $60,000, and Jeremie is a multi-millionaire, according to CoinMarketCap.

In the X post, Jeremie regrets not buying 100,000 BTC because he could do so at that low price. His post resonates with so many in the crypto space who daily express missed life-changing opportunities in the crypto market with coins like Shiba Inu (SHIB), Pepe Coin (PEPE), and Dogecoin (DOGE).

Technical Analysis: Why is BTC Price Rising?

Currently, the BTC price needs help to maintain above the $60,000 mark, up from lows of $57,000. After dropping steadily over the past week, analysts attribute the recent rally to a strong market foundation and increasing investor confidence.

The Non-Farm Payrolls report, which shows the number of new jobs created in the United States (U.S.) the previous month, will be released on Friday, September 6. In the past, positive NFP data have resulted in a Bitcoin price surge, like when BTC surged 4% from $59,000 to $61,770 after NFP release on May 3. This is because an increase in NFP data shows more job creation and, consequently, a healthier economy.

According to Investing.com, NFP has been dropping year-to-date (YTD), showing that the U.S. job market has been cooling down more rapidly than anticipated. 

However, five of the last seven Jobs reports have exceeded forecasts, typically positive for both the economy and the Bitcoin price. This trend increases the likelihood of a favorable report this Friday, which could explain the recent rise in BTC.

BTC price prediction shows that if the asset breaks above the $59,500 barrier, it may increase gains by 3.97% to $62,000. A significant sell wall exists at this level, making it an attractive target for market makers. The large pool of liquidity around this supply zone provides the perfect opportunity for them to push prices higher.

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Evans Karanja

Evans Karanja is a content writer and scriptwriter with a focus on crypto, blockchain, and video gaming. He has worked with various startups in the past, helping them create engaging and high-quality content that captures the essence of their brand. Evans is also an avid crypto trader and investor, and he believes that blockchain will revolutionize many industries in the years to come. When he is not writing, you can find him playing video games or chasing waterfalls.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.