The recent bullish trend in the cryptomarkets reignited the optimism of traders and enthusiasts around the world. After the sharp drop of 2017, Bitcoin experienced a phase of stability that led many analysts to announce that it possibly had bottomed.
However, beyond these analyses (optimists indeed) the recent bullish trend of the last few days increased the hype among traders, and the fact of overcoming a brief correction after the -new- Bitfinex scandal, increased the confidence of many analysts, who are feeling more and more positive that BTC is starting a new bullish phase.
You Can’t Be Too Bullish
A recent article by U.today covered the sentiment on Crypto Twitter, pointing out that several analysts and famous accounts see the possibility of BTC overcoming the 300k barrier. It also mentions a study by ThinkMarkets which raises the bar a bit higher and ensures that the 400k mark is perfectly achievable.
“I personally believe that each Bitcoin can go up as much as $400K and if history repeats itself, this number is not a fool’s paradise. This is a simple math calculation: approximate percentage projection of the price which we experienced during the last bull run.”
John McAfee, shared his impressions regarding these studies. The well-known cyber-security expert explained that according to his knowledge of point-set topology, these estimates (although they seem exaggerated) are actually very conservative: the most objective value based on this branch of mathematics is at least 1 million dollars in 2 years.
Is McAfee in Danger to Lose His D!ck?
This prediction is neither crazy nor new. John McAfee is known in the cryptoverse for having placed a famous bet, in which he assures that if the BTC does not reach 500k, he would eat his penis.
Shortly thereafter, he raised his bet by modifying the value from 500k to 1 Million dollars.
Despite Mr. McAfee’s excessive optimism, it is important to note that this figure still seems a little ambitious. BTC is reversing its trend, but has not yet reported the growth rate necessary to reach this goal.
Fnordprefekt tracks the “McAfee line” and shows that BTC is more than a year behind John’s estimates, however, on previous occasions, the growth curve is generally so steep that the recovery is much faster than many imagine.