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



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Kriptokoin.com – By 2020, John McAfee says it's impossible for the Bitcoin price to be below $ 1 million.

The North American cyber security expert shows basic mathematics as the only measure to justify his six-figure forecast for Bitcoin. He specifically states that Bitcoin's behavioral economy is completely different from his stock, and he can not apply paradigms and formulas of actions to realize the future value of koi.

I bitci.co

Basic Mathematics Basics

McAfee has not fully established the mathematical formulas that have led it to insist on a $ 1 million worth of Bitcoin. However, based on the previous statements, the programmed computer measured the actual value of Bitcoin based on the cost of production (mining) and the total number of users and transactions on the network. McAfee emphasizes that Bitcoin is not a speculative investment, but a tool that supports a payment protocol that works without banks.

The mathematical measurement of McAfee resembles a fiduciary monetary system. The US dollar has value in the eyes of the people, because they depend on the regulator that regulates and releases value. The greater the acceptance of Benjamin ($ 100), the greater the demand. In the case of just Bitcoin, the process of making money collapses completely. Therefore, instead of the endless printing of banknotes, a protocol places a predefined supply limit on Bitcoin printing (21 million units) and gives thousands of miners the task of mining.

As a result, it is a protocol that transfers funds from a lower bank to an average bank. In addition, it manages the registration of each transaction without the need for intermediaries. McAfee believes that such a usage situation can further expand the Bitcoin network and says,

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

Why 2020?

McAfee has not explained why 2020 is a year in which Bitcoin could reach $ 1 million. The predictions show the currency encrypted as a low-performing racehorse. For example, at the end of $ 5,000, the BTC / USD exchange rate will have to grow 19,900% by December 2020. This means that Bitcoin should approximate its annual average growth rate of 9.950% and that the encrypted currency should test at least $ 497,500 by the end of 2019.

Even if the price reaches $ 500,000 this year, the possibility of a negative correction will be close to historical highs. The price of a large amount of Bitcoins may be artificial compared to an increase of $ 20,000 in 2017, in response to poor admission. Thus, rising to high levels will cause investors to abandon their positions.

McAfee may be right in predicting one million dollars from Bitcoin, but 2020 seems too early for such a milestone.

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