January 29, 2020

McAfee Founder Slams Bitcoin, Bolsters Altcoins Domination

Just a few months ago, John McAfee, who is looking to be the next president of the United States, truly supported Bitcoin. Moreover, he shared his opinions regarding the cryptocurrency price by stating that BTC can be very-very valuable. 

In a series of tweets he explained his followers why Bitcoin may be the best financial tool for future systems, as well as joked that he would eat his valuable man’s copulation organ.

Recently, the founder decided to drag Bitcoin through the mud by posting a new tweet.

Such an opinion doesn’t look weird because McAfee also confessed that his pro-Bitcoin campaign was nothing more than a just an attempt to draw new users’ attention. Even though many followers believed him earlier, it does not mean that a founder understands the Bitcoin concept wholly. Sometimes, such people simply influence on the audience to get more attention. That is why, it is better to follow analysts and experts. There is a reason why these educated people dedicate their valuable time in researching crypto market, while other persons just troll the society with so-called ‘hilarious’ tweets.

For instance, Stephen Perrenod in his recent article explained the theory of why Bitcoin can reach new highs by analyzing the market cap data. Earlier, some crypto experts tried to apply different models to understand the price movement in upcoming months.

Unlike the previous ones, Perrenod’s takes into account not only the shortage of coins that will arise due to the limited issue and halving but also their residual supply. Based on this, the analyst concluded that with constant demand, Bitcoin would rise in price against the background of diminishing inflation and rise in price to $ 77,500 within a decade. However, this figure may increase significantly, possibly even up to $ 100,000 if the value of the US dollar decreases, Perrenod added.

His research was triggered by the popularity of the model proposed by the PlanB analyst. In October last year, he published a way to calculate the future value of Bitcoin based on a coin shortage. As Perrenode noted, this model predicted the first cryptocurrency would rise in price to $ 1 trillion by 2050, which already hinted at its controversy.

Disclaimer

This article is intended as a news item to inform our readers of various events and developments that affect, or that might in the future affect, the value of the cryptocurrency described above. The information contained herein is not intended to provide, and it does not provide, sufficient information to form the basis for an investment decision, and you should not rely on this information for that purpose.

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