McAfee corrects fake account statements regarding Verge, causing the currency to plunge.

Switching from his "coin-of-the-day" tweets (now McAfee claims he will do "coin-of-the-week" tweets instead), today, Mcafee instead clarified his stance on Verge, declaring, "I have NEVER, at ANY time predicted XVG would reach a price of $15", going on to explain it was a misquote from a fake account, lacking the Twitter verified identity check-mark.

Immediately, the price of XVG dropped from near 20 cents USD to around 17 cents. McAfee went on to say in a further tweet, "I did say XVG could possibly rise to $0.15 from the $0.01 that it was at the time, but, for God's sake - never $15." The coin since dropped to around 15 cents USD, lining up with McAfee's correction.

This goes to show the influence that McAfee has on the confidence of traders in the cryptocurrency market.

Having said that, anyone with basic math skills could have deduced that a $15 valuation for Verge any time soon would be ludicrous (it would result in a market cap around the same as Bitcoin, or about half of the entire crypto market).

It is a curious time for such an announcement. McAfee did not clear up this false information when it was first disseminated about a week ago. The Verge team has stated that the key update, the Wraith Protocol, enabling important privacy features, would be ready by the end of 2017.

With just a few days remaining in December, McAfee releases this statement. Perhaps he knows more about the situation at Verge than he is letting on. Is it possible that this is intentionally affecting the price of Verge before a release? Or, is McAfee distancing himself knowing the release will not happen, as it has been delayed before?

There is only one way to find out. Wait and see.

source:

https://twitter.com/officialmcafee