In the tweet, that published today earlier, famous crypto enthusiasts and cofounder of MGT Capital Investments, John McAfee, proved the community the situation around Bitcoin is only a temporary phenomenon and the first cryptocurrency will continue to rise.
Bitcoin jitters? Just stop it! Short term fluctuations are meaningless. Bitcoin is still up almost 300% from 6 month's ago. Everytime there's a dip I have to calm people in replies, DMs, etc. GET A GRIP! You know in your heart Bitcoin cannot lose.
— John McAfee (@officialmcafee) August 22, 2019
He also noted that digital gold has already gained 300% in comparison with the beginning of the year.
“GET A GRIP! You know in your heart Bitcoin cannot lose,” wrote McAfee.
John McAfee believes that Bitcoin will “fly up” and become “extremely valuable” soon.
At the first of the year, the US presidential candidate 2020 published in his microblog a forecast according to which the price of the main crypto will reach $ 1 million by December 31, 2020.
People are waking up to the fact that Bitcoin will be $1,000 000. But when? "Someday". "Maybe 5 years". "WIthin a decade". I'm the only one giving you a hard date: Dec 31st, 2020.https://t.co/rst3BcypFz"will-be-1-million-someday-says-jesse-lund-vp-of-blokchain-at-ibm.html
— John McAfee (@officialmcafee) February 22, 2019
He attached a link to an interview with Jesse Lund, IBM’s global head of blockchain for financial services and digital currencies, in which the expert says that Bitcoin will cost $ 1 million someday.
This is not the first forecast that bitcoin will cost $ 1 million in 2020. He backed up his confidence in the rise in the price of cryptocurrency with a statement in which he promised to eat his penis if the forecast does not materialize.
Expert Opinions: Can Bitcoin Keep Rising
The most capitalized cryptocurrency exchange rate at the moment (according to several exchanges) fell below the level of $ 10,000. At the press-time Bitcoin is trading at $ 10,011 according to the CoinMarketCap. All TOP-10 assets are trading in the red zone.
Meanwhile, Arcane Crypto specialists analyzed the market and concluded that the current level of Bitcoin dominance exceeds 90%. A post citing the study was published by cryptographer Adam Back. The difference in results can be explained by liquidity adjustments included by specialists.
— Adam Back (@adam3us) August 22, 2019
According to CoinMarketCap, the current level of BTC dominance is 68.8%.
The crypto community drew attention to the correlation of the mining with the behavior of the asset price. As a result, BTC will be able to enter active growth at the time of reaching the local “bottom” of complexity.
After each ATH #bitcoin price drops until a lot of miners aren't profitable. Miners switch off hardware (capitulate), hashrate drops, and difficulty adjusts downwards .. until miners become profitable again and difficulty rises. Difficulty bottom (100%) starts a new bull market🚀 pic.twitter.com/IgriE3GkPq
— PlanB (@100trillionUSD) August 21, 2019
Earlier, crypto users noted that the Bitcoin exchange rate is moving in a triangle. Presumably, at the time of completion of the figure (end of September 2019), an exit to growth can be realized. It is noteworthy that it was during this period that the Bakkt cryptocurrency platform plans to launch bitcoin futures contracts. Also in the fall, the SEC will decide the fate of the Bitcoin-ETF.
Despite the support in the form of a positive news background, some participants in the crypto community admit the possibility of the asset leaving the figure in the direction of falling.
— Rockstar Trading [BTC$100K🚀2020] (@RockstaTrading) August 21, 2019
Meanwhile, Anthony Pompliano, co-founder of the Morgan Creek Digital crypto fund, once again positively takes on Bitcoin.
Bloomberg Intelligence analyst Mike McGlon and general partner of Blockchain Capital venture Spencer Bogart also spoke about the possibilities of further BTC movement. According to Mike McGlone, shortly, cryptocurrency will continue move side-ways.
Spencer Bogart, in turn, believes that BTC seems to be a safe asset from a long-term perspective. The specialist noted the possibility of further growth in its value, which, in his opinion, will be based on the continued adaptation of the cryptocurrency and the advantages of the new financial instrument over fiat (in a precarious economic situation).
Recall that yesterday Bitcoin set another hashrate record. According to the trader Max Keiser, a new high may indicate an approaching growth phase.