John McAfee Blows His Own Horn Over Bitcoin Price Predictions
The media and others have it all wrong when it comes to predicting Bitcoin’s price movements. This according to John McAfee who believes he’s the only one who can make such calls accurately.
The founder of software giant McAfee took to Twitter this week to give his thoughts.
BUT I ALREADY SAID THAT!
It’s been several months since McAfee tweeted specifically about Bitcoin’s price. It seems the latest predictions made by several people didn’t sit well with him.
One of the things that go hand-in-hand with Bitcoin and other cryptos relate to price predictions. Everyone, it seems, has an idea about how high, or how low, it will go, and when.
Jesse Lund, IBM’s vice president of Blockchain and Digital Currencies, recently expressed his bullish Bitcoin views. He set a long-term $1 million price target.
That target is based on his belief that the higher the price of a crypto asset, the more utility it has. For this reason, people should focus less on the moving prices of crypto assets and more on their utility, he said, adding:
If the price of Bitcoin were higher, there would be more liquidity on the network, we could be having a really different discussion with banks right now.
This $1 million target seems to have really annoyed McAfee. He tweeted:
John McAfee✔@officialmcafee
People are waking up to the fact that Bitcoin will be $1,000 000. But when? “Someday”. “Maybe 5 years”. “WIthin a decade”. I’m the only one giving you a hard date: Dec 31st, 2020.https://www.chepicap.com/en/news/7612/-btc-years …“will-be-1-million-someday-says-jesse-lund-vp-of-blokchain-at-ibm.html
John McAfee✔@officialmcafee
Jesus! The media yet again! “By Dec. 31. 2020”, is not an exact date. Let’s all be clear again: I predicted Bitcoin would reach $1,000,000 before the end of 2020. That is not saying it will hit that price on that date.https://coinpedia.org/news/john-mcafee-predicts-bitcoin/ …
John McAfee Predicts The Exact Date Of Bitcoin Reaching $1,000,000
The end of 2020 is predicted to be quite bullish. As, two of the crypto influencers claim that Bitcoin may reach $1 million.
coinpedia.org
BITCOIN’S ON THE MOVE; SO ARE PRICE PREDICTORS
An interesting point made by Lund was that speculators are hurting the value of cryptocurrencies “because they’re thinking about it wrong.”
Bitcoin’s price has been slowly, but steadily, approaching $4,000 USD.
Lund joins others who’ve spoken out about BTC’s price as it’s recently started to move higher. Following a rapid surge in its price to $4,000 from $3,614 to $4,000 within a span of three days, traders are speculated it could retrace by around 7 percent to $3,700, CCN reported.
The cautious projection on the price trend of the dominant crypto asset comes after the failure of BTC to climb beyond the crucial $4,000 resistance level.
Much attention is on institutional investors, who are anticipated to ramp up their crypto positions this year. It’s thought that they will open the floodgates of capitalization, institutional expertise, and the aura of officialdom, infusing the crypto industry with so much value. CCN noted that many expect its market cap will dwarf its previous peak at the height of the bubble in 2017.
The lack of momentum in the price trend of BTC has also started to affect tokens that have outperformed the majority of digital assets in the past 30 days, CCN reported this week. Also, tokens such as Binance Coin, VeChain, Ontology, Status, and Waves have started to fall. They could see intensified downside movements in the next 24 to 48 hours depending on the performance of BTC.
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