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Bitcoin forecasts, McAfee's estimates move away

All those who are passionate about cryptocurrency have had, at least once in their life, the audacity to make predictions about future price of Bitcoin.

In this context, however, few forecasts have become as famous as that of the IT security expert John McAfee, who bet on the fact that Bitcoin would have reached $ 1.000.000 per BTC by the end of 2020. Now that there are "only" 365 days to go, however, doubts about the effective reliability of this estimate are growing.

On July 17, 2017, before Bitcoin exceeded $ 10.000 and became a brand familiar to non-experts, cyber security pioneer John McAfee made a prediction that Bitcoin would reach $ 500.000 by the end of 2020, for a forecast then retouched to 1.000.000 euros.

Now that 2020 has arrived, and Bitcoin is currently trading at $ 7.200, however, there are many concerns that the visionary McAfee may be right.

In short, McAfee's forecast runs the risk of being easily archived in the ranks of the oddities of this visionary, who said he had printed his own personal currency, of being in the running for the United States Presidency, and much more.

So if there wasn't already enough reason to question the validity of McAfee's prediction, it's probably enough to point out that Bitcoin's price is currently 95% lower than the projection that would be needed for Bitcoin to be able to hit one million per BTC by the end of the year.

In fact, to achieve this goal, Bitcoin would currently have to be trading at $ 171.000 per BTC and continue to grow at a rate of 0,484095526% every day.

To date, however, and given the recent action on Bitcoin prices, achieving this forecast seems to be rather unrealistic ...

 

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Roberto Rais

A great cryptocurrency expert and a long time collaborator. He actively follows several specialized Blogs in the cryptocurrency sector as Editors

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