September brought a painful reckoning to the cryptocurrency market, ushering in a brutal bitcoin price crash that wiped thousands of dollars - and months of progress - off the asset’s hard-fought recovery. To make matters worse, bitcoin’s terrifying technical picture is leading analysts to augur…
September brought a painful reckoning to the cryptocurrency market, ushering in a brutal bitcoin price crash that wiped thousands of dollars – and months of progress – off the asset’s hard-fought recovery.
To make matters worse, bitcoin’s terrifying technical picture is leading analysts to augur even sharper losses in the coming weeks, with longtime skeptics like Peter Schiff gleefully forecasting complete meltdowns.
Bolstered by those credentials, McAfee tweeted out a succinct how-to manual for shellshocked cryptocurrency investors who might be ready to cut their losses and cash out.
McAfee said that he “firmly” believes the bitcoin price will soar to $50,000 in the medium term and onwards and upwards to $1 million in less than 15 months. What cryptocurrency investors need to worry about is the stomach-churning short term.
He suggests that you “stop wringing your hands” and distract yourself by indulging in three of humanity’s favorite vices: sex, drugs, and Game of Thrones.
Here’s the full text of his 269-character how-to manual:
“Ignore this drop in Bitcoin’s price. I am firmly with Peter Brandt in his medium term $50k price prediction. I am also firm on my $1 mil price by the end of 2020. Stop wringing your hands! Watch GOT reruns, or woo your spouse or finish off your drug stash. All is well.”
No HBO subscription, and too scrupulous to illegally stream one of the most pirated shows of all time? You can always dive into the original A Song of Ice and Fire novels, though at this rate, the crypto market will recover before author George R.R. Martin finishes writing the final two books in the series.
At any rate, McAfee had better hope that it does, because he arguably has more riding on this than anyone.
More than just a financial stake, the septuagenarian former internet tycoon swore that he would chow down on his manhood on national television if the bitcoin price fails to eclipse $1 million by the end of 2020.
That starry-eyed gamble seemed far-fetched, even when he first made it in Nov. 2017 as crypto fever began to boil over into an unabashed mania.
Nearly two years later, with bitcoin trapped in a downward spiral and the clock steadily ticking on McAfee’s bold prediction, it’s difficult to agree with his defiant assertion that “all is well.”
This article was edited by Samburaj Das.
Last modified: January 10, 2020 2:44 PM UTC