According to a statement made on Twitter, John McAfee has made strong predictions that Bitcoin will excel beyond the $15,000 range by June. While these are short-term predictions, McAfee remains a strong source on cryptocurrency valuations and their performance.
In his statement, McAfee states that this is a 'special time' and rarely makes short-term predictions on investment areas.
"I seldom make short-term predictions because they are frequently meaningless and they encourage short-term investors, which in turn encourages mediocrity. But this is a special time."
The reliability of McAfee's predictions is maintained by his algorithms which, according to him, have never been wrong. McAfee has notably also predicted that bitcoin’s price will hit $1 million in 2020.
If McAfee is correct, bitcoin’s price is set to more than double in little time, as the flagship cryptocurrency is currently trading at $7,489 according to data from CryptoCompare.
My short term price predictions: in a major dip, with nearly everything dropping, the price of Docademic doubled since my prediction. The market will turn before June 12th and my predictions will hit. My algorithms predicted Trump's June 12th date. They have never been wrong. pic.twitter.com/IGAzWPtOV4— John McAfee (@officialmcafee) May 24, 2018
Along with Bitcoin, the eccentric cybersecurity pioneer expects altcoins to make substantial gains between June and August. With Bitcoin Private (BTCP), a merge-fork of bitcoin with ZCash surpassing $200, and EOS surging to reach $32 by the end of July.
It’s worth noting that the cybersecurity pioneer, as covered by CryptoGlobe, has in the past revealed he is bullish on Bitcoin Private, as he stated the cryptocurrency is set to replace Monero (XMR) as the number one cryptocurrency being used on the dark web.
The eccentric millionaire has pumped various cryptocurrencies in the past with Verge (XVG) surging after he claimed to be more bullish on it than on Zcash or Monero. It’s worth noting he also pumped various cryptocurrencies after being paid to do so, as he was running a service that charged $105,000 per tweet.
McAfee has also stated that this strong bullish trend is attributed to a significant rise in institutional demand. In a tweet published earlier this week, he stated that major long-term investors will begin surging behind Bitcoin and various altcoins.
“Institutional investors are preparing to enter the cryptocurrency market with a vengeance. They are generally long-term investors and will be pumping billions into the market. Expect the top ten coins to go through the roof fairly quickly. The bulk of altcoins will soon follow.”