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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

McAfee Just Backtracked From His Infamous $1 Million Bitcoin Price Prediction

Tony "The Bull" Severino
Tony "The Bull" Severino
5 years ago
3 mins read
bitcoin crypto mcafee

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John McAfee, the eccentric crypto promoter and iconic cybersecurity expert, made a bold prediction years back that Bitcoin would reach $1 million per BTC by the end of the year of 2020.

Now that the year is upon us, and Bitcoin price is experiencing a case of price impotence, McAfee is now backtracking on his infamous “dickline” prediction.

McAfee Backtracks On Million Dollar Bitcoin Prediction Due to Price Impotence

Cybersecurity expert John McAfee became the poster child for Bitcoin and crypto at the tail end of the crypto hype bubble, promoting various ICOs and reportedly being paid a large sum by projects to do so.

But Bitcoin doesn’t have a foundation funding it, yet McAfee heavily promoted the cryptocurrency. As part of his personal campaign to promote the cryptocurrency, McAfee very confidently took to Twitter to make a bold prediction: Bitcoin would reach $500,000 by the end of the year 2020.

Related Reading | Bitcoin Price (BTC) Undervalued By Nearly $34K According to Infamous Dickline 

Weeks later, Bitcoin’s price performance increased, causing McAfee’s statistical model he used to come up with the prediction to prompt him to double down on his earlier prediction and ramp it up to $1 million per BTC by the end of 2020.

McAfee also further upped the ante by offering to eat his own penis on live television should Bitcoin fail to reach the supplied target.

Complete websites were developed to track the progress of Bitcoin reaching the target, and it’s been the talk of the crypto community for two years running now.

Yes, I said Bitcoin would hit a million (making it bigger than the GNP of all of North America for Christ sake – learn to multiply).

I simultaneously said I fucked whales and invested in a company testing Zombie intelligence!

As a clue.

50% believed the whale thing.

Wake up!

— John McAfee (@officialmcafee) January 29, 2020

But now that 2020 is here, and Bitcoin is experiencing a bad case of price impotence, McAfee is now backtracking on that prediction, sizing it up alongside his investment in “zombie intelligence” and him having sexual intercourse with whales.

And to clarify, he’s talking about the amphibious sea mammal and not high-wealth investors.

Zombies, Whales, and Crypto: Why Believe These Bold Bets?

Considering McAfee’s regular antics, believing his prediction or that he’d follow through with eating his penis on television was foolish, to begin with.

McAfee has issued his own crypto-backed fiat currency with his own likeness on it along with other notable crypto industry characters, claims to be running for the 2020 presidency, and while constantly on the run from the United States government.

Related Reading | McAfee’s Prediction: Only 365 Days Left, Bitcoin Trades 95% Below Dickline Projection

What causes investors to hold out believe in McAfee’s prediction, is due to the figure being a common price prediction for many other analysts and models, and due to McAfee’s icon status around the cybersecurity industry.

John McAfee was the founder of the earliest anti-virus software and was a pioneer in that industry.

Next time around, though, the crypto industry will be more cautious believing a prediction from a man who claims to have sex with whales.

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Tony "The Bull" Severino
Tony "The Bull" Severino

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

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Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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