McAfee: The price of bitcoin at $2 million in 2020
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McAfee: The price of bitcoin at $2 million in 2020

By Marco Cavicchioli - 21 Oct 2019

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John McAfee has raised the stakes with regard to the prediction of the price of bitcoin by the end of 2020. 

In the past, he had already made a prediction that seemed very optimistic: one million dollars. And this time he has actually doubled the predicted price. 

Interviewed before the Malta AI & Blockchain Summit, he said

“If it’s less than two million dollars by the end of 2020 then mathematics itself is a flawed discipline”.

The interview was published on the official YouTube channel of the event, and it is not only about the prediction of the price of bitcoin in 2020. 

He also talked about economic freedom and decentralised exchanges, saying that within two years they could become widely used. McAfee suggests that states and governments may want to control centralised exchanges, and this will push users to use decentralised ones. 

The famous influencer says that 2019 was not an exceptional year for the crypto market, but is laying the foundations for a real explosion in the price of bitcoin, ethereum and the entire crypto market in 2020. 

Growth is expected to start already in the first months of the year, and could also be supported by an increase in the adoption of these new technologies. 

McAfee argues that cryptocurrencies have reached a certain critical mass due to the fact that by now only very few people in the world have never heard of them. This could lead to a wide diffusion of these technologies and their fungibility in 2020. 

According to McAfee, the consequence will be an increase in demand for bitcoin, and since the production of new bitcoins will be reduced, there will be a mathematical increase in price. 

In reality, the evolution of the price of bitcoin cannot be calculated mathematically, although at the basis of the reduction in the creation of new bitcoins there is, in fact, a precise mathematical calculation, making it quite predictable how it will happen. In May 2020, more or less, there will be the third halving, which will cut by half the current 12.5 BTC which are created every 10 minutes, bringing it to 6.25 BTC. 

According to McAfee, this would be enough to trigger a massive price increase, but many other analysts are not so sure or so optimistic. 

 

Marco Cavicchioli
Marco Cavicchioli

Class 1975, Marco teaches web-technologies and is an online writer specializing in cryptocurrencies. He founded ilBitcoin.news, and his YouTube channel has more than 11 thousand subscribers.

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