Cryptocurrency

John McAfee Still Confident About $1 Million Bitcoin Prediction, Even After Drastic Fall

Bitcoin‘s volatility continues to haunt, as the coin closed at the lowest on Sunday since June 23, at $10,234. However, John McAfee feels that investors shouldn’t be bothered about these fluctuations. He also said that he was still positive about his prediction that Bitcoin will touch the $1 million mark by the end of 2020.

John McAfee has time and again stated that investors shouldn’t be affected by the short-term price falls, even if they are drastic. In the long run, he says, the apex cryptocurrency has a bright future. Other than Bitcoin, McAfee has also predicted bullish futures for altcoins. He tweeted on Sunday indicating that privacy-focused cryptocurrencies, like Monero, ZCash, Dash, etc., will not lose.

Despite his views, the current fall is a bit of a worry, given the growing political tension around Bitcoin and other cryptocurrencies. Bitcoin ending losing for the third straight day, after US President Donald Trump criticized Bitcoin and altcoins on Twitter. Trump had stated that he doesn’t like Bitcoin and other cryptocurrencies because they “are not money, and whose value highly volatile, and based on thin air.”

He had also stated that unregulated crypto assets facilitate illegal and anti-social activities like drug trafficking. Following his remarks, big guns of the crypto fraternity reacted to his tweets and tried to clear misconceptions that he has about crypto.

Nonetheless, it was expected that Trump’s remarks would have an effect on the market, which they apparently have. The next couple of days will make it more apparent of how serious the market has taken Trump’s remark. Meanwhile, it is also worth mentioning that McAfee has opposed regularizing crypto as it is impossible to do so, going against what President Trump supposedly wants.

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Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.
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