We’ve seen some outrageous price predictions for Bitcoin over the years, but none beat John McAfee’s bet that Bitcoin will reach $1 million by the end of 2020 or he will eat his own dick. While watching a grown man eat his own dick is not a sight any of us want to see, Bitcoin’s recent price tumble has many concerned that McAfee could be gracing our screens eating dick in the not so distant future. Yet, the man himself is surer than ever that Bitcoin will indeed hit $1 million by the end of 2020 and he has reasons – math.
Still Shilling Shitcoins
McAfee is one of the most prolific pay-per-Tweet personalities, and he managed to work some promo into a Tweet about the recent price drop. He laughed and urged followers not to panic about the current dip in price. McAfee told followers to look at the bigger picture and leave the 1-week charts alone. He then went on to reassure followers that Bitcoin is still on an upward, trend and that this mini dump is big players shaking out the weak hands before it carries on its surge towards $20,000. At the end of his Tweet, McAfee added that Bitcoin is still on for $1 million by the end of 2020, with both MTC and Apollo rising 10x more – great little shill there, McAfee.
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
Could McAfee be a Bit Early?
A Tweet from the popular crypto analyst PlanB pointed out that McAfee could be a little early with his prediction, as he believes Bitcoin will see $1 million around 2025. PlanB is using Stock0toFlow analysis using October data with November 2013 and December 2017 all-time highs removed. This removes noise and gives a 99.5% fit for the Stock-to-Flow model. This model puts Bitcoin at around $35,000 during 2020, a great target given the upcoming halving event.
This is becoming scary: using Oct instead of Dec data, Stock-to-Flow model fit improves to 99.5% R2! Model error was mainly caused by Nov2013 and Dec2017 ATH, so sampling without ATH gives less noise. Predicted #bitcoin prices increase: $100K (2020+), $1M (2024+), $10M (2028+)… pic.twitter.com/1WX6LOVxZW
— Plan₿ (@100trillionUSD) July 14, 2019
Bitcoin Still on Sale
The recent Bitcoin pullback that took us down tout of the $10,000 range briefly is simply a routine pullback. These pullbacks are great opportunities to buy more Bitcoin at a huge discount. Large pullbacks tend to be followed by parabolic momentum and large gains. As McAfee pointed out, this latest pullback is likely large players shaking out the weak hands as they try to scoop up cheap Bitcoin.
While McAfee is confident that he won’t be eating dick come 2020, there are a lot of stats that point to McAfee having to film himself eating dick. One Redditor is firmly in the McAfee camp, as he predicts that Bitcoin will see $21,200 by July 25th. Either way, as long as Bitcoin is higher in 2020 than it is now, there will be a lot of happy hodlers!