Re: Do u agree that Bitcoin will go to 500,000$ in 2020 by john Macafee claim ?

John macafee tweeted last month that bitcoin will hit 500,000$ in next 2 to 3 years whats your opinion about that? are u seeing this or not??

I appreciate his optimism but i don't think it is going to happen.

Honestly, if would shock everyone, even the biggest bitcoin fans if it happened.

He actually made the prediction when the price of bitcoin was steadily rising on a day to day basis, and i think that's what has mostly influenced him to say such an outrageous thing. Obviously, he did not consider that growth will ultimately slow down. There is nothing on this world that can sustain 10% per day gains, without correcting itself in a major way. I see a major correction happening next year, which will slow us down quite a bit.

So sorry Mr. McAfee.

I do not think we are meant to take this prediction literally since there is no way for bitcoin to have that value, I think this is just a declaration of a sentiment, he feels bitcoin is going to be very valuable in the future and in that he is not wrong.

He seems to be completely serious about this, even if this was just a publicity stunt i think that he does mean what he say. He isn't just throwing $500k around as an arbitrary number for bitcoin, he is giving that figure as a target AND he is giving a time that this is going to be achieved as well. I doubt that he's merely demonstrating that he is a supporter of bitcoin, as this would be a rather idiotic way to do it.

Usually after the pump(which is now), there is a few years of bearish or sideways movement in the bitcoin market.

His date of 2020 falls on a halving which could potentially bring bitcoin back to the price right now or even above($5k), but $500k is 100 times that figure.

If that is the case then I do not know what to say since it is impossible we are going to reach that price in that time frame, Im not even sure we could see that price in the next century.