John McAfee, whose fame came to him as the founder of the software company he founded in the late 1980s, again in his Twitter account confirmed that he is still still a bullish trend on Bitcoin.
Lot’s of people asking me over the past two days whether my bet is still on (that I will eat my dick if Bitcoin does not reach $1 million by the end of 2020). ABSOLUTELY!!! It is a bet that I cannot possibly use. Use your heads people! Run the numbers that crypto folks well know.
— John McAfee (@officialmcafee) February 2, 2018
Recall that in an attempt to predict the price of Bitcoin at the end of this decade, McAfee previously stated that by the end of 2020 it will reach $ 500,000. In November 2017, he wrote on Twitter that the Crypto-currency accelerated growth much faster than expected, forcing him to raise the forecast to $ 1 million.
However, McAfee’s prediction of Bitcoin is not all that he said in his tweets. He argued that if Bitcoin did not reach its target price by the end of 2020, he would “eat his penis on national television.” Although it is obvious that virtually any television network will allow such a demonstration as words on the air, McAfee may be trying to inspire greater confidence in his prediction. Nevertheless, most people, including some sane crypto currency enthusiasts, ridiculed his bold statements.
According to Makafi, his “prediction model” only predicted that Bitcoin would reach $ 5,000 by the end of 2017. However, the reality turned out to be quite deviant from his model, when the digital currency was at a record high peak of about $ 20,000 in December 2017. Bitcoin, along with the entire crypto-currency market, is on a steady decline from the moment of reaching this maximum, with total market capitalization at least 40% lower than a month ago. Naturally, this prompted people to question McAfee’s prophecy about the future. After all, in order to reach $ 1 million by 2020, Bitcoin will have to grow a hundred times from his current assessment.
John McAfee recently ceased his role as the main seer of cybersecurity at MGT Capital Investments. The company not only has a significant stake in the Bitcoin hydroelectric production, but also works with blockchain technology to develop products related to safety.
Interestingly, McAfee was a pretty strong supporter of the Bitcoin, Bitcoin Cash (BCH). He even mentioned two crypto-currencies that could potentially compete for the top position in the future. Most Bitcoin Cash supporters believe that the original Bitcoin is too bloated and unfit for use as a currency or a substitute for cash, which requires the existence of a hard-core. McAfee not only believes that BCH is a possible system of payment based on cash, but also that it can overthrow Bitcoin as a de facto crypto currency. Still, it’s surprising that his view of BCH does not jeopardize the fact that Bitcoin reaches $ 1 million over the next few years.
It remains unclear whether Bitcoin will return its movement back to the record high level set in December 2017. Although past performance is not an indicator of the future, it is likely that the entire digital currency market will recover sooner or later, as always. However, when this happens, one can only assume. How much is achievable target price McAfee will show only time.