John McAfee, an eccentric cybersecurity pioneer who’s running for the Oval Office in the 2020 elections, has recently revealed he believes bitcoin is going to “break records” that are only going to be exceeded by altcoins in the future.
Via the microblogging platform Twitter, McAfee revealed he believes the recent bull run that saw bitcoin surpass $13,400 will continue, but will also briefly be reversed. In the long run, he added, BTC will “break records” that altcoins will beat, in a “phenomenon that will go down in history as the single most important economic upheaval since the invention of minted coins.”
Will it continue? Of course. Will it reverse? Of course, but briefly. In the long run Bitcoin will break records that will only be exceeded by alt coins, a phenomenon that will go down in history as the single most important economic upheaval since the invention of minted coins. pic.twitter.com/nVR1QUExJy— John McAfee (@officialmcafee) June 26, 2019
In follow-up tweets, the eccentric cybersecurity pioneer and well-known bitcoin bull added that it’s a “mathematical certainty that the growth you are seeing is a yawn compared to what's coming,” hinting the price of some cryptocurrencies will surge in the future.
He responded to users’ questions by clarifying he was referring to growth some altcoins will see, “especially [those] in the medical field and in privacy coins.” When asked which coins he would recommend, McAfee pointed towards Monero (XMR), Zcash (ZEC), MTC, Apollo, and Safex.
Again ..... The growth you are seeing in Bitcoin is nothing compared to the growth you will see in alt coins .... especially in the medical field and in Privacy Coins. Just wait.— John McAfee (@officialmcafee) June 26, 2019
It’s worth noting that John McAfee is standing by a prediction he made, that bitcoin’s price will hit $1 million by 2020. According to a website tracking the bet, BTC is currently 82.88% McAfee’s price target, as its trading at $11,800 and needs to increase by $69,200 to be on target for $1 million by 2020.
The entrepreneur has also recently launched a “Bitcoin Play” app that lets users earn cryptocurrency while testing their knowledge, as well as a bitcoin debit card that can be used “anywhere” where Visa cards are accepted.
McAfee’s predictions may notably be shared by some prominent analysts in the cryptocurrency space. Tom Lee, the co-founder of Fundstrat Global Advisors and a bitcoin permabull, has recently stated “there will be an alt season” on Twitter.
There will be an alt season... https://t.co/lLJKKprbAv— Thomas Lee (@fundstrat) June 26, 2019
Lee’s words imply we will in the future see alternative currencies – cryptocurrencies other than bitcoin – start surging and outperforming BTC itself, presumably as traders turn bullish on specific projects and use bitcoin to buy their tokens.