For cryptocurrency right now, optimism is in short supply. Over the last month, we’ve seen bitcoin consolidate around the $8k range leaving many enthusiasts thinking that $13k is probably the highest will see it for 2019. Before all of this was when bitcoin hit $20k at the end of 2017, making A LOT of people millionaires overnight.
The well-known crypto bull and computer programmer, John McAfee argued that by the end of 2020, Bitcoin would reach and surpass one million dollars.
This is a very bullish prediction that most of us can only dream of the leading cryptocurrency reaching, however, whereas many naysayers and even some enthusiasts will have shrugged this off, McAfee is sticking to his guns and has even given an update on his prediction.
Speaking in a recent interview with AIBCSummit, McAfee said, “Run the f**king numbers. If Bitcoin is less than $2 million by the end of 2020, then mathematics itself is a flawed disappointment.”
In a separate interview with Forbes, McAfee backed his prediction saying:
“Let’s get real, there are only 21 million bitcoins. Seven million of which have been lost forever, and then, if Satoshi [bitcoin’s anonymous creator] is dead, add a few more million.”
Before we go any further though, it’s worth saying that we aren’t financial investors and this isn’t financial advice. Please do your own research before putting your money in a cryptocurrency and always remember to trade safe!
Can you be too Bullish?
This raises the question as to whether it’s possible to be too bullish for your own good. Don’t get me wrong, we respect McAfee’s prediction because as we all know bitcoin is one of the most unpredictable assets out there so one )or maybe two) million is always on the table. Unlikely, sure. But definitely possible.
It will be interesting to see how this situation plays out with the bitcoin price but only time will tell. For more news on this and other crypto updates, keep it with CryptoDaily!