John Mc Afee continues to be bullish on Bitcoin and has asked the crypto community to ignore the Bitcoin price drop. He further said that he fully supports Peter Brandt in his midterm $50K prediction and is also firm on his $1 million Bitcoin prediction by the end of 2020.
Is Bitcoin Establishing A New Bottom?
Commodity trading veteran Peter Brandt recently predicted that the Bitcoin price could be heading $50,000 in the long-term. He further said that before starting its next upward trend, Bitcoin will first establish a bottom at $5,500. Back in April, he had suggested that Bitcoin had entered its next parabolic phase before the coin went from $5,000 to nearly $14,000 in the span of a few months.
Interestingly, John Mc Afee’s tweet garnered some interesting responses from crypto twitter. A twitter user with the handle “ Imtinan Tariq” said that if BTC managed to hit $50,000 he would give his $59 to McAfee, thus indirectly hinting at the absurdity of the price prediction.
Another Twitter user with handle “Bit Outback” wondered if it was a new bottom for Bitcoin price, the latest bottom or a new low. Well, it seemed he answered his own question.
A user with the handle, Hydeez, seemed somewhat agreeable to the proposition put forth by John McAfee and Peter Brandt. She gave an interesting analogy and said that sometimes to see forward we need to look back. Interestingly, the Bitcoin price was a mere $420, 5 years back.
Sometimes you need to look back to see forward. 5 years ago BTC was $420 pic.twitter.com/LqfOeLPwcE
— Hydeez ®️ (@Hydeez411) September 30, 2019
Earlier, on July 15, 2019, major cryptos experienced steep declines, Bitcoin started trading below $10,500 and altcoins also witnessed a sharp decline in prices. However, a ray of hope was John Mc Afee’s consistent $1 Mln Bitcoin price prediction. He then said that the crypto users need not worry about these weekly price fluctuations and considering the previous months the price was still doing a pretty decent job.
Will Bitcoin price live up to Peter Brandt’s and John McAfee’s bullish predictions? Let us know, what you think?
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Coming from a physics background the unpredictability and intrigue of the cryptoverse attracted me to take a dive in this field. I am all eyes and ears for the latest trends in blockchain and crypto sphere. Whenever I am not writing or researching, I love to read sci-fi novels, play basketball and watch action movies. I strongly believe that blockchain and cryptocurrency will bring lasting transformations in people’s lives in the years to come. You can reach out to me at supriya [at] coingape.com.