Traditional stock market is different from cryptocurrency market

Bitcoin (BTC) is liable to keep growing

Paypal Director aired his opinion about $1000000 BTC price

In the crypto space, optimists and pessimists will always exist. To be frank, some cryptocurrency enthusiasts like John McAfee, the British-American software guru, are not ready to back down on their mathematical but outrageous Bitcoin (BTC) price predictions.

Bitcoin (BTC), the largest digital currency by market cap, is presently enjoying a blissful atmosphere in the crypto market with increase in price since the beginning of this week, and it is trading around $5700 at press time.

John McAfee had earlier predicted that Bitcoin (BTC) will experience a shocking price surge by the end of 2020 and 1 BTC will equal $1,000,000. Since 2017 when the prediction was made, McAfee has been reiterating his forecast with great confidence, claiming that he would swallow his dick if he’s wrong eventually.

When I predicted Bitcoin at $500,000 by the end of 2020, it used a model that predicted $5,000 at the end of 2017. BTC has accelerated much faster than my model assumptions. I now predict Bircoin at $1 million by the end of 2020. I will still eat my dick if wrong. pic.twitter.com/WVx3E71nyD — John McAfee (@officialmcafee) November 29, 2017

McAfee’s Crucial Point in Support of his Bitcoin (BTC) Price Prediction

John McAfee took to twitter to share another point to support his 2020 Bitcoin (BTC) price prediction which people are skeptical about. In the tweet, he opined that anybody in the crypto sphere is liable to accept or reject his BTC price forecast as the resistance to his prediction keep increasing, but fact remains that cryptocurrency market is new and unique.

McAfee proceeded by saying, mathematical formulas that are applied in traditional stock market are not applicable in the cryptocurrency market.

There is resistence to my Bitcoin price prediction. It is because people are applying the paradigm of the traditional stock market formulas to the crypto market. Only an idiot could miss the fact that the crypto market is a brand new paradigm unto itself . Are we all that stupid? — John McAfee (@officialmcafee) May 3, 2019

Afterwards, the crypto pundit again reaffirmed his stance as a twitteratti made a short analysis contradicting his predicted time interval for Bitcoin (BTC) to soar to $1,000,000.

Means nothing to me. I know, absolutely, that Bitcoin cannot, under any circumstances, be less than 1 mil by the end of 2020. — John McAfee (@officialmcafee) May 3, 2019

Bitcoin (BTC) is liable to keep growing speedily with the rate it convinces more trusted and capital investors due to its decentralised nature. So, John McAfee is not ready to chicken out on his claim about the subject matter. While optimists who remain steadfast with the assertion keep their fingers crossed, the pessimists should watch the scene as it unfolds from distance.

Jesse Lund And Wences Casares Also Predicted $1 Million Bitcoin (BTC)

Jesse Lund, head of IBM Blockchain and Wences Casares, a director at Paypal, in an interview followed John McAfee to predict $1,000,000 price for Bitcoin (BTC).

In the interview published in March 2019 on Kana and Katana, Casares posited that there is tendency for Bitcoin (BTC) to skyrocket to $1,000,000 in the next 7 to 10 years.