In a rather haughty Tweet posted earlier today, American crypto enthusiast John McAfee wrote that he was “laughing his f—— ass off” at the concern over Bitcoin’s falling price this week.
The entrepreneur went even further and reiterated his prediction that Bitcoin would reach $1 million by 2020.
What has him so bullish?
John McAfee Predicts Bitcoin $1 Million by 2020
Bitcoin price has fluctuated wildly in recent weeks. Unable to breach the $14,000 mark, Bitcoin topped out at approximately $13,650 and fell back below $10,000 at the end of June. Then last week, a similar bull run happened again, only this time, Bitcoin reached approximately $13,050 before declining.
Now, as the coin trades for $10,557 USD, the market is showing concern for the coin’s future—the sentiment is notably bearish.
However, McAfee is laughing it off. His Twitter post from this morning reads as follows:
“Bitcoin is at the mid 10’s and people worry. LMFAO!! Why do you pay attention to weekly fluctuations? Look at the past few months FFS! It’s rising drastically. I’m still positive about my $1 mil BTC price by the end of 2020. Alt coins like MTC and Apollo will rise ten times more.”
The notorious entrepreneur has a point. Yes, Bitcoin has lost around 9% on the week; however, on the month, it is trading up 23%, and in the last three months, it has made a gain of over 100%.
And the bullish sentiment doesn’t stop there. John McAfee recently predicted that in only ten year’s time, “there’ll be no fiat anywhere in the world […] everything will be cryptocurrency.”
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John McAfee for President?
McAfee is currently in exile in Cuba for allegedly evading US income tax charges. He is at the same time coordinating his second campaign for the American presidency.
Recently, he stirred the market when he said he would reveal who Satoshi Nakamoto is. However, he reneged on this when noting that the ensuing controversy could damage his efforts to fight extradition to the US.
Are you as bullish on Bitcoin as McAfee? Let us know your thoughts!
Featured image: DepositPhotos © nevarpp
