You probably will think John McAfee has lost his mind with his predictions. Firstly, a $1 million BTC price, now $2 million before the end of 2020. However, taking a critical look at things fundamentally, some few factors may drive his prediction to come about.

John McAfee, who’s so sure of his prediction has in the past said he would feed on his genitals on national TV if it didn’t come to pass. In his recent forecast, Mr. McAfee, who’s undoubtedly convinced of his position said;

“If Bitcoin is less than $2 million by the end of 2020, then mathematics itself is a flawed disappointment.”

Nevertheless, here are a few factors that could see John McAfee’s outrageous prediction come true.

#1. 2020 Bitcoin Halving

The 2020 bitcoin halving is probably the most anticipated event for bitcoin holders investors. The event, slated for May 2020 would see bitcoin’s reward slashed into two – from its present 1,800 daily rewards to 900. When this happens, it’s expected that the value of bitcoin rises drastically as the asset becomes more scarce.

#2. Global Recession

Countries such as Venezuela is on top of the list of those facing economic turmoil. This situation leaves its citizens looking for a better option – a way to preserve their wealth from drastically declining in value.

It has led to a lot of people seeking refuge in bitcoin. However, Venezuela isn’t alone in this, and if more countries join in, the value of bitcoin could rise exponentially.

#3. Institutional Investors

Another factor that could propagate bitcoin’s adoption would be when Wall Street fully takes an interest in bitcoin. At the moment, things are starting to light up from this angle. Bakkt’s launching, though having a sluggish start, without a doubt has begun to receive some attention from institutional investors.

As reported by ZyCrypto, there was a glimpse of interest from institutional traders when trading volume on the Bakkt exchange reached 224 BTCs on Wednesday, 9th October 2019. However, a full adoption by these investors is expected to give bitcoin’s value a considerable boost.

#4. Bitcoin’s Scarce Nature

Bitcoin is scarce by design. There are only 21 million of it that will ever be. Unlike fiat, where millions are printed periodically, the world is literally fighting to have a piece of the bitcoin pie. It means having it at any price. This demand would, therefore, drive bitcoin price high, several percentages.

While all the above mentioned are true factors that may drive bitcoin adoption, and its price high, a $2 million price prediction for Bitcoin may seem like an over-exaggeration. However, only time would tell as the world watches events roll by.

Let us know what you think in the comment box below.

The post John McAfee Doubles Down On His $1 million BTC Price Prediction. This Time Raising The Bar, Predicting $2 million Before 2020’s End appeared first on TechCavit.

As a Bitcoin enthusiast, we all know the programmer, businessman who became famous after the invention of the well-known McAfee antivirus software. I mean John David McAfee and the founder of McAfee Associates and his famous predictions in relation to cryptocurrency, Bitcoin to be precise. As a computer programmer and a Bitcoin enthusiast, he had the confidence even though most of his short predictions were out of range.

He has made a lot of prediction in relation to Bitcoin and token. On 28th November 2017 four months after his first bet on cryptocurrency. He then took a bold step to make the well-known prediction of all times, which was bitcoin to hit $ 1 million in 2020. Upon this statement, he continued by saying he will eat his own dick on live national television if his prediction goes wrong. Since then, Bitcoin has been unstable, things are not going well with John David McAfee and his prediction.

With Bitcoin, things are looking different nowadays, the price of Bitcoin has been unstable since and after his prediction. On December 20th, 2018 Bitcoin exceeded $4000 after a huge marginal drop which gained a lot of attention, in view of this John McAfee tweeted by saying generation will look back on and name “the year of emergence”. He then made a prediction in relation to Bitcoin private (BTCP), that BTCP will exceed $200 by the end of July 2018, Decodamic (MTC) to hit $0.73 by mid-July 2018 and the price of Docademic which will be doubled by 12th June. At the end of July, EOS Bitcoin to hit $32. He also predicted that Bezop will hit $0.54 by mid-July 2018.

Moreover, Bitcoin was at its peak on June 3rd, 2018 which was $7,779.00 and since then it has been fluctuating. The value of Bitcoin hit its highest point throughout July with the value of $8,506.00 from the beginning of July till July 24th. Even though his predictions were related to bitcoin and tokens, none of them came to the past, they were all wrong.

As Bitcoin price continue to drop from $20k to $4k, it is clearly seen that McAfee’s prediction is moving out of range from his prediction towards the $1 Million by the end of 2020. Bitcoin price is 76.3% which is below 292 days from January 1st declining closer to the deadline of john MacAfee’s prediction. To be precise, at this point in time bitcoin should be closer to $23,520.00 by know. Am not predicting, but looking at the statistics so far. MacAfee’s predicting tool known as Bircoin.top keeps track of the progress in relation to his prediction which also explains that there is the need for Bitcoin to grow 0.484095526% every day from July 17th 2017 to 31st December 2020 to generate $2,244.27. which was the price of his prediction leading to the $1 Million.

The year 2020 is getting closer, will john McAfee’s $1,000,000 Bitcoin prediction come to past, even though most of his predictions were not accurate. Base on the past events and the analysis provided above should we overlook his predictions? And will he eat his d*ck on live national television if his prediction backslides?

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