McAfee Mathematically Predicts ‘Bitcoin Below $1 Mln by 2020 is Impossible’

By Kapil Gauhar

A recent John McAfee Tweet offering to the market implies that it would be “mathematically impossible” that 1 BTC will be less than $1 million by the end of 2020.

Assuming that Bitcoin stays around its current price for the next 24 hours, a great spot to begin from, now sitting at $5,330, it needs launch on a head-turning lift off expanding by 20,000% to achieve McAfee’s 2020 $1 million target. The jump in 2017, viewed by numerous individuals as very unforeseen and unrepeatable, saw a 20-times jump in the estimation of the flagship coin before it similarly as quickly collided with earth in 2018.

It is important to note that John McAfee’s last big prediction of $500,000 before the finish of 2020 made in 2017 is as yet current, so he has the upside of a fallback position should wish to fence his wagers at the end of the next year from now approaches, assuming BTC is flying into the stratosphere.

John McAfee’s mathematics revealed to him that his initial prediction priced Bitcoin at $5,000 before the end of 2017, and it to be reasonable it had effectively multiplied that by December to $10,000. An essential yearly doubling up procedure, however, would not have taken BTC to his unique $500,000 prediction by the end of 2020; truth be told, a mathematical total based on multiplying would be closer to $80,000, but still no mean accomplishment, and incredible for those BTC holders purchasing in 2017. McAfee was unmistakably seeking after a 20-times yearly jump over the range span over 4-years to get to his mammoth target.

CEO of Xapo and a director at PayPal, Wences Casares, is going for BTC reaching $1 million in the next 7 to 10 years, yet at the same time gives McAfee’s claims a trace of an opportunity. Casares utilises his own equation by multiplying the aggregate of BTC holders with $7,000 and given there are 3 billion owners universally, at that point the currency could be worth $1 million with a fixed Bitcoin supply of 20 million units.

McAfee’s latest media offering has implied that he’s not ready to release the real identity of Bitcoin creator, but he has revealed –

“It is not the CIA nor any agency of any world government. It is a collection of people, but the white paper was written by one man, who currently resides in the US.”