McAfee doubles down: "still positive" Bitcoin will reach $1 million by 2020

Perpetual bull, John McAfee offered more than just a voice of reason last night as the market witnessed a violent shakeout. The security magnate doubled down on his infamous prediction of a $1 million Bitcoin price, noting that he was “still positive,” that it was on track.
McAfee doubles down: still positive Bitcoin will reach $1 million by 2020
Yesterday saw the market thoroughly shaken as bitcoin dipped below $10k for the first time in weeks as yesterday’s highly touted daily close brought more pain than most were expecting. However, McAfee came to slap some sense into investors…
McAfee noted that Bitcoin had reached $10k, a minor miracle in itself following what was  long and cold crypto winter of 2018. The eccentric crypto aficionado added that the latest dip was simple “weekly fluctuations” and even suggested that his predication of $1 million per BTC by 2020 was still on track:
Bitcoin is at the mid 10's and people worry. LMFAO!! Why do you pay attention to weekly fluctuations? Look at the past few months FFS! It's rising drastically. I'm still positive about my $1 mil BTC price by the end of 2020. Alt coins like MTC and Apollo will rise ten times more.
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And he would be right, not necessarily about the prediction, but certainly about the state of the market. Right now, Bitcoin is still around 170% up year-to-date and is still boasting a five-figure price, something we could have only hoped for a few months back.
BTC/USD Chart provided by Tradingview  
Moreover, we’re currently still in a bull market and corrections, or as McAfee puts it “weekly fluctuations” are to be expected.
Interestingly, various corrections from the 2015-17 bull market were recently collated by analyst Peter Brandt, who alluded to the fact that a 30-40% correction was not outside the realms of possibilities during a bull market.
The recent 30.5% correction in BTC is mild compared to the many corrections in the 2015-2017 parabolic advance.
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What do you think? Are you worried about this latest drop? Will we go lower? Let us know your thoughts in the comments!
McAfee doubles down: "still positive" Bitcoin will reach $1 million by 2020 McAfee doubles down: "still positive" Bitcoin will reach $1 million by 2020 Reviewed by Chaudhry on July 15, 2019 Rating: 5

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