Home Forums Technical analysis of cryptocurrencies McAfee: In 2020, Bitcoin will cost… $2 million…

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    John McAfee, the inventor of popular antivirus software, has raised his earlier forecast of Bitcoin (BTC) prices to $2 million. According to the eccentric millionaire, the cryptovalue will reach this level by the end of 2020.

    Bitcoin was created in 2009, but for a long time its price remained at a relatively low level, and it did not arouse much interest. This was the case until 2017, when its price unexpectedly exploded, every few weeks reaching new heights – at the end of the year the price of BTC was almost 20 thousand dollars.

    Rising prices of Bitcoin led to a significant increase in interest in crypto currency and many strange forecasts – more or less accurate. His forecast was presented by John McAfee, considered by many to be a guru of cyber security. He argued that by the end of 2020 the price of BTC will reach the level of 1 million dollars. Although most experts were critical of these announcements, McAfee maintained his forecast and recently raised it even further.

    Is McAfee’s forecast realistic?
    Although McAfee maintains its projections, current Bitcoin pricing models – including the most generous – are still in place. – show that even reaching the level of USD 1 million by the end of 2020 is very unlikely. This could only happen if the financial system were to collapse completely and then adopt crypto-currency quickly and globally.

    The report of the German bank Bayerische Landesbank states that after the division of the prize for the extraction of BTC (the so-called halving), the price of crypto-currency may increase even up to 90 thousand dollars. According to this model, the price of 1 million dollars will become real at the earliest after the next reduction of the prize for the block, which is to take place in 2024.

    Whereas Harold Burger, in the article “Bitcoin’s natural long-term power-law corridor of growth” predicts that the price of BTC will reach 1 million dollars at the earliest in 2028, if at all.

    In turn, the analytical company Bytetree discovered that the internal rate of return of Bitcoin fell to 115% annually, which means that the seven-digit price of a cryptocurrency can only reach around 2029.

    #910 Reply

    Hhahahahahahaha i don’t think so. If it will happen i will become millionere and i will by my dream laborgini.

    I will come back to this topic at 2020 to see who is billionaire now 😀 😀 😀

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