Popular investor and prominent cryptocurrency advocate John McAfee reiterated that the Bitcoin market “has now turned,” suggesting that the bottom is in. His announcement comes after Bitcoin price soared more than 20 percent in the last two days alone.
‘The Market Has Now Turned’
Bitcoin price gained upwards of 20 percent in less than two days. The cryptocurrency surged from around $4150 on April 1st to its current price point of about $4,980.
Historically, as its price starts to increase, so does the public interest toward it. Bitcoinist reported that Bitcoin has made it into the top ten of most searched terms on Google, hitting over 100,000 searches yesterday.
While most are looking for the exact reason that caused the massive spike in Bitcoin’s price, John McAfee came up with a statement that sounds a lot like “I told you so.” The popular entrepreneur said:
Everyone trashed me two weeks ago when I said: “The market has now turned”, so I’ve kept my mouth shut. I will now say it again: “The market has now turned”. The bow of the bear market was pulled to its max. Now watch the arrow spring to life.
Apparently, McAfee suggests that we’ve seen the worst from the bear market and that it’s only upwards from here.
“I am absolutely NOT the type of person who would ever say “I told you so”. But. . . . . . I fu%*ng told you so!!” – he tweeted today.
The bullish sentiment doesn’t seem to end with McAfee, though. Another Bitcoin investor and entrepreneur, Alistair Milne, also said that “pretty much every OG Bitcoin trader” he respects is leaning bullish days before Tuesday’s price surge.
$995,000 to Go By December 31st, 2020
In 2017 McAfee made a particularly popular bet that Bitcoin price will move above $500,000 in three years or else he’d have to consume his own manhood on national television.
Amusingly, there’s even a dedicated ‘dick clock’ website online counting down to the day.
More recently, he has updated his prognosis, putting Bitcoin at $1 million by December 31st, 2020.
Despite the recent surge in Bitcoin’s price, which brought it close to $5,000, the cryptocurrency has a long way to go before it reaches the $1 million target. To be precise, Bitcoin’s price would have to gain 19,900 percent in the next 638 days.
This means that Bitcoin would have to add approximately about $1,559 to its price every single day until December 31st. Pretty ambitious.
Meanwhile, McAfee has also stated that he will be ‘running’ for the 2020 US Presidency in ‘exile’. In reality, though, the entrepreneur has said that he doesn’t really expect to become the next US president and that he only wants the stage.
What do you think about McAfee’s Bitcoin price predictions? Don’t hesitate to let us know in the comments below!
Images via Shutterstock, Bitcoinist archives