Several cryptocurrency enthusiasts seem very positive about the future of the cryptocurrency market. As Bitcoin (BTC) grew during the last few weeks, analysts and other experts in the space are starting to become more bullish. John McAfee, one of the most bullish Bitcoin supporters confirmed Bitcoin will reach $1 million.
Bitcoin Recovers and Prepares Itself for a Good 2019
Bitcoin seems to be behaving in a more bullish way than most would have expected just a few weeks ago. After reaching $3,250 in December 2018, Bitcoin is now being traded just under $4,000. This upward movement experienced by Bitcoin is making several individuals very bullish about the upcoming 2019.
Although Bitcoin’s price grew during the past days, there are other reasons why to be bullish about the most popular cryptocurrency. For example, 80,000 worth of Bitcoin Longs was bought on BTC futures. This is the highest volume ever registered according to the Reddit users CC_Batman.
Moreover, the Bitcoin bull analyst John McAfee confirms that Bitcoin would skyrocket in the future. During an interview released by Crypto Miner UK, McAfee explained that Bitcoin will reach $1 million as soon as December 31st, 2020.
He mentioned about it:
“People are waking up to the fact that Bitcoin will be $1,000,000. Bu when? “Someday”. “Maybe 5 years”. “Within a decade”. I’m the only one giving you a hard date: Dec 31st, 2020.”
People are waking up to the fact that Bitcoin will be $1,000 000. But when? "Someday". "Maybe 5 years". "WIthin a decade". I'm the only one giving you a hard date: Dec 31st, 2020.https://t.co/rst3BcypFz"will-be-1-million-someday-says-jesse-lund-vp-of-blokchain-at-ibm.html
— John McAfee (@officialmcafee) February 22, 2019
In another tweet, he said that this is the only bet he made and that he has never lost a bet in the past.
Currently, each Bitcoin is being traded around $3,985 and it has a market capitalization of $69.96 billion. In order for Bitcoin to reach this price, it would have to increase 24,994.1% in less than two years.
Nevertheless, McAfee is not alone in this prediction that he made. Jesse Lund, the vice president of blockchain and digital currency at IBM, thinks in a similar way. During a conversation with Finder.com, he said that in 2019, Bitcoin will be traded close to $5,000 but that it will eventually reach $1 million.
There is a website that was created in order to track Mr. McAfee’s price prediction for the future of Bitcoin. According to it, Bitcoin should be worth $37,950 if it wants to reach $1,000,000 in December 2020.
