Bitcoin price bets are more common throughout the encryption process. Each day someone bets on a different future price, but no bet gets as famous as John McAfee's prediction that either Bitcoin will reach $ 1 million in late 2020.
With the first quarter of the year complete, we’re sure and McAfee’s expectation was very… very wrong.
The story of the bet that McAfee made on the price of Bitcoin became famous not only because of the absurd value that it predicted, other experts bet that the currency would reach that amount, however, no data was such a short term, or said that would do something so unbelievable go out ...
The entrepreneur's first forecast was made in July 2017, when he declared on Twitter that Bitcoin would reach $ 500 million in 3 years. In his bet he said that if the price did not reach the predicted value, he would practice congratulating himself (to write politely) on the national network.
As we know, in 2017 or Bitcoin entered an incredible time for its price, reaching its highest value so far. With that, in November 2017 he increased his bet, saying that the BTC would reach US $ 1 million by 2020, stating that he would still suck his own genitalia on national network if he was wrong.
Bitcoin reaching 1 million at the end of the year?
Unfortunately for McAfee, 2 weeks after his $ 1 million bet, the price of the cryptocurrency started the infamous 80% collapse in a matter of a few months that led to the ICO bubble bursting.
In 2019 we had the second biggest increase in BTC, which reached US $ 13,800. This may even have given some hope for the entrepreneur's bet, however, it didn't take long for the currency to fall again.
Then we had the beginning of 2020, where the cryptocurrency again showed signs that it was recovering, with BTC reaching over US $ 10,000. However, we had the current crisis because of the coronavirus and everything went down again, once again ending the chances of Bitcoin reaching $ 1 million (for now).
So, will we have an indecent McAfee presentation on television at the end of the year?
Was everything a marketing scam?
Not long ago, McAfee revealed that his entire gamble was nothing more than a strategy to draw investors' attention to the cryptocurrency market.
Currently, McAfee is betting on the quality and future of Monero. For now it remains to be seen if this time, this bet will work. Meanwhile, we see Bitcoin gaining more and more space in general adoption.
by Matheus Henrique
