Popular cryptocurrency commentator and veteran entrepreneur John McAfee tweeted that people shouldn’t panic over the price of Bitcoin dropping below $9,500. The serial entrepreneur is a well-known Bitcoin proponent and has expressed optimism about the cryptocurrency in the long term multiple times. However, his exile continues as he has admitted to not filing tax returns for at least the past 7 years.
Bitcoin Below $9,500: Don’t Panic
The price of Bitcoin has experienced a serious setback in the past couple of days, losing upwards of $700 in a violent move downward. For a brief period of time, it dropped below $9,500, causing many to believe that it will test support around $9,200.
Commenting on the matter was long-term cryptocurrency proponent and veteran tech entrepreneur John McAfee. Being true to his sentiment, he tweeted that “If you are panicking, you are a fool.”
Bitcoin under $9,500. If you are panicking, you are a fool.
— John McAfee (@officialmcafee) August 29, 2019
McAfee has previously expressed his position on short-term price fluctuations, saying that there’s absolutely no reason to get caught up in them as Bitcoin is a long-term play. It’s also worth noting that he was right to predict that Bitcoin would surge just a couple of weeks ago, as CryptoPotato reported back on August 6th.
McAfee’s Exile Continues
At the same time, McAfee’s exile continues, as he has switched his whereabouts once again after revealing that someone had publicly outed his previous “safe house.”
In a series of tweets, as well as in a recent interview with Bitcoin Radio, he once again stressed the benefits that cryptocurrencies and blockchain-based technologies offer. He said that they allow people to remain completely anonymous when transacting, while also stripping official authorities off the control they have over them.
It will be interesting to see whether or not McAfee continues his 2020 presidential run. Previously, he said that he would be running it from his boat. He has since been held in contempt, released, and moved to a few unknown locations. His exile continues, and it’s unclear exactly how he will keep on running his presidential campaign.