Tuesday , January 26 2021

McAfee: "Bitcoin $ 1 million is not impossible!"

Kriptokoin.com – In 2020, John McAfee says it is impossible for Bitcoin to remain below $ 1 million.

The British American cyber security expert shows basic mathematics as the only measure to justify his six-figure prediction for Bitcoin. He specifically states that the bitter behavioral economy is completely different from its fund and can not apply stock and stock formulas to realize the future value of which.

I bitci.co

Understanding the Basic Mathematics "

McAfee did not fully establish the mathematical formulas that led him to insist on a $ 1 million bitcoin value. However, on the basis of previous statements, the programmed computer measures the true value of Bitcoin based on the cost of production (mining) and the total number of users and transactions in the network. McAfee emphasizes that Bitcoin is not a speculative investment, but a tool that supports a pay-per-pay protocol that runs without banks.

McAfee's mathematical measurement resembles a money-making system. The US dollar has value in the eyes of people, as they rely on the regulator that regulates and releases value. The higher the acceptance of Benjamin ($ 100), the higher the demand. In the case of Bitcoin only, the process of making money falls entirely. Therefore, instead of printing an endless dollar to the bank, the protocol sets a predetermined limit on the bid in the Bitcheon printing (21 million units) and gives thousands of miners the task of mining.

As a result, it is a protocol that transfers funds from less than one average bank. Furthermore, it manages the registration of any transaction without the need of intermediaries. McAfee believes that such use could further expand the Bitcoin network and says:

Cak People will start using Bitcoin for payments and accounts. In the long run, these currencies will be devalued, so people will stop using US dollars, euros and Chinese yuan.

Why 2020?

McAfee did not explain why 2020 is the year when Bitcoin can reach one million dollars. Forecasts show the crypt currency as a bad low-performance race. For example, at the end of $ 5,000, the exchange rate of BTC / USD will have to grow by 19,900% by December 2020. This means that Bitcoin should bring its annual average growth rate close to 9,950% and that the crypt currency should test at least $ 497,500 at the end of 2019.

Even if the price approached $ 500,000 this year, the possibility of a negative correction would be close to historic highs. The price of a large amount of Bitcoin can be artificial compared to an increase of $ 20,000 in 2017 in response to poor reception. Hence, the high level of increase will cause investors to leave their positions.

McAfee could be right in the one-millionth forecast of Bitcoin, but 2020 seems too early for such a landmark.

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