Veteran entrepreneur and popular cryptocurrency commentator John McAfee has correctly predicted that Bitcoin’s price would surge within a week. McAfee made the comment while noting that the US had been putting pressure on the world’s largest cryptocurrency, but also stated that the government lacks control over it.
John McAfee’s Bitcoin Prediction Was Correct
As CryptoPotato reported back on July 28, John McAfee, the founder of one of the world’s most prominent security software businesses, McAfee Associates, said that Bitcoin would surge in one week.
His comments came as the US was putting pressure on the cryptocurrency, and the entrepreneur noted that the government didn’t have the power to control it.
Bitcoin is under pressure from the U.S. and its price reflects it. But the U.S. has no real power in controlling CryptoCurrency. Just Watch. A week from today, Bitcoin will continue its meteoric rise.
His prediction came through even sooner than he anticipated. Since July 31, the price of Bitcoin is up more than 28%, adding a little bit less than $3,000 to its dollar value.
The increase in price also caused a surge in the BTC dominance index, which measures Bitcoin’s share of the entire cryptocurrency market. At the time of this writing, it stands at 68.5%. The last time it was this high was back in April 2017.
Still a Long Way From $1 Million
While McAfee was correct to predict this latest surge in Bitcoin’s price, it’s worth remembering that he’s made another quite popular prediction. Back in 2017, he said that Bitcoin would reach $1 million by the end of 2020, and if he’s wrong, well… we all know what he’d have to eat.
Of course, some would say that this came amid a period of rapid acceleration, as it wasn’t long afterward that Bitcoin reached its all-time high value of $20,000. What followed was a prolonged bear market, and you’d have expected McAfee to back off from his prediction.
That, he didn’t. Just last month, the prominent entrepreneur doubled down on his $1 million per Bitcoin prediction, saying that weekly price fluctuations are irrelevant.
Bitcoin is at the mid 10’s and people worry. LMFAO!! Why do you pay attention to weekly fluctuations? Look at the past few months FFS! It’s rising drastically. I’m still positive about my $1 mil BTC price by the end of 2020. Alt coins like MTC and Apollo will rise ten times more.
— John McAfee (@officialmcafee) July 14, 2019