The crypto enthusiast John McAfee told in an interview about the future of Bitcoin’s price in the long term.
McAfee commented on the fall of Bitcoin from $7400 to $6400 in 3 days, he believes that this is the manipulation of the market:
“You can only manipulate something if you have the power to do so. Now if that thing becomes more valuable your power decreases, and the inherent value is many times the current price of Bitcoin. It just comes through always in every market situation. The people that are manipulating it, they are going to lose billions of dollars and then it’s going to be over.”
McAfee said that Bitcoin’s market is now in an “infantile state,” comparing it to a blade of grass susceptible to the wind or step. He also added that it will become “a fire raging in the forest” soon.
Finally, McAfee talked about the “mathematics” of the coin and made his own forecast of Bitcoin’s price for 2020:
“Why don’t we look at the last Bitcoin? We have thousands of people to mine one coin. What is that coin going to be worth? Maybe billions. Mathematics doesn’t lie. Say what you want, mathematics doesn’t lie. If it’s not a million dollars in 2020, it has to be. The end of 2020, December. That’s my prediction, I’m going to stand by it…it is the number 1 coin for processing transactions. Run the numbers.”
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