John McAfee is known for his price predictions and outspoken comments. Earlier in May, the former CEO of McAfee Inc. predicted prices for Bitcoin [BTC], Golem [GNT], EOS [EOS], Docademic [MTC], Bezop [BEZ] and Bitcoin Private [BTCP].
Along with the tweet, McAfee attached an image indicating his price predictions, which stated:
“Bitcoin will surpass $15,000 in June. Will dip in July.
GNT [Golem] will surpass $5 by the end of July.
Docademic will hit $.73 by mid July.
Bezop will hit $0.52 by mid July.
Bitcoin Private will surpass $200 by the end of July.
EOS will hit $32 by the end of July.”
According to McAfee’s tweet, Bitcoin prices were expected to rise up to $15,000 in June after which he predicted the prices to fall again. As observed, the highest price BTC reached in June was $7600. Although it did not hit the $15,000 mark, it did have a major fall. Bitcoin crashed to its lowest point in 2018 on June 29th.
On June 10th, a flash crash occurred where Bitcoin dropped to $7200 from $7600 in just under 2 hours. Almost all cryptocurrencies faced the same bearish run, as they dropped by 5%. Furthermore, on 23rd June, Bitcoin’s value dropped over $600 in 10 hours.
The coin was trading at the price of $5855 on 24th June. After fighting the resistance, Bitcoin broke the record again by falling to $5815. The market cap also fell below the $100 billion margin during the crash. Irrespective of all the deep pits Bitcoin fell into, it started to gain an upward momentum in July.
McAfee said that Bezop will reach $0.52 and Docademic will hit $0.73 by mid-July. During McAfee’s predictions, Bezop, ranked at #660 and was priced at $0.106. As observed, Bezop [BEZ] is trading at $0.073 at the time of writing with a market cap of $4 million. It is currently experiencing a pump of 13.84% in the past 24 hours.
When McAfee predicted the prices of Docademic, it ranked #297 and its trading price was $0.144. At the time of press, Docademic [MTC] is ranked at #149 on CoinMarketCap. The coin is trading at the price of $0.22 and has a market cap of $48 million. The coin is currently facing a hike of over 39.91%. McAfee predicted that the price would reach $0.73 within the stipulated time period.
As of now, predictions of McAfee have not yet been met, even as the coins are 2 days away from hitting the mid-July timeline. Golem is expected to rise up to $5, gaining more than 4 times its value. EOS is speculated to bang the level of $32 by the end of July, with Bitcoin Private predicted to reach heights close to $200.
Golem [GNT] is currently trading at the price of $0.28, while EOS [EOS] is trading at $7.11.
When McAfee posted his predictions, the cryptocurrency influencer faced criticism and appreciation from Twitteratis as well as Redditors.
Venetian Coin, a Twitter user said:
“Stop lying please. People are losing money. Not funny.”
Rebecca, another Twitterati commented on McAfee’s prediction post, saying:
“I have a bag of Golem – took my last ETH and bought a bigger bag. Ty John. Let’s see what happens. I love this project”
Jiya42Jain, a Crypto enthusiast said:
“I betcha guyzz this man is crazy. Im buying MTC because of his predictions”
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Bitcoin’s censorship resistance, freedom make it a game changer in the economic industry
Over the years, the global economic industry has witnessed significant changes. However, no change has been more significant or essential than the one introduced by the concept of virtual assets or Bitcoin. Today, Bitcoin and other virtual currencies are almost as essential as fiat money and despite the fact that digital assets have not reached worldwide adoption, the pace of growth has been substantial.
In a recent panel discussion, Jedidiah Taylor, CEO and Founder of Decent.Bet, the smart contract-based sports betting platform, stated that the idea of Bitcoin and blockchain technology projected a perspective of freedom and honesty which allowed individuals to have direct control over their own capital, without any oversight supervision from financial institutions.
The sentiment was followed by Nico De Jonghe, Founder and CEO of NDJ Investment Group, who added that the threat of decentralized assets loomed the largest over centralized institutions like banks, who were worried of the future prospects offered by Bitcoin and its impact on the long-term financial situation.
Tone Vays, a reputable analyst and Bitcoin proponent, opined and stated that Bitcoin’s biggest strength was the fact that it was completely “unconfiscatable” and that one’s BTC is completely safe if it is protected and secured with attention. The characteristic of censorship-resistant value transfer is also an absolute game-changer for Bitcoin, allowing it to competitively exist in the financial system.
The value of Bitcoin has often been criticized in the past, but its valuation has consistently proven its worth. In fact, Bitcoin has grown by more than 150 percent in 2019.
At press time, Bitcoin was priced at $11,371, with a market capitalization of over $202.18 billion. The staggering valuation of an asset that was unheard of 10 years ago, further underlines the potential of Bitcoin in the current market scenario and for the future economies.
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