John McAfee Doubles Down, Predicts $1 Mln BTC, Bets His D**k On It

Outspoken John McAfee has made the bold claim that Bitcoin will be worth $1 mln by 2020.

John McAfee, founder of McAfee Associates a well-known software company has always been Bullish on Bitcoin, in fact, he has even been confrontational on the fact.

In July, with a lot of fear and uncertainty surrounding Bitcoin ahead of its Aug. 1 chain split, McAfee came forward and stated boldly that he was willing to stake his name and up to $10 mln on a bet that the Bitcoin price will move above $500,000 within three years or he would "eat my d**k on national television."

That prediction was seen as ludacris at the time, and many were left wondering how his on-screen promise would play out – however, now that Bitcoin has crossed $11,000, McAfee is not sitting back smugly, but rather raising the bar.

The outspoken tech mogul has now said:

“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 Bitcoin at $1 mln by the end of 2020. I will still eat my dick if wrong.”

Predictions abound

With the feeling being that Bitcoin has truly crossed the mainstream adoption threshold, and the dam wall has broken, many big-name players have lent their thoughts to a predicted target.

Ronnie Moas, famed stock picker, has tried to remain ahead of the curve, changing his prediction three times in the month of November already. He began at $11,000 for the new year but then changed it to $14,000, before now settling on $20,000 for a split-adjusted price.

Tom Lee, much more cautiously, said:

“Bitcoin fell to $5,600 and since then rebounded. In our view, this move to $5,600 cleaned up weak hands and we no longer feel caution is warranted. … We recommend steady buying of Bitcoin at these levels."

He went on to predict 40 percent growth in seven months, but in all reality, Bitcoin fell short $200 of his $11,500 target this week.

Max Keiser is another one who has made a big and bold prediction, although it is only one-tenth of McAfee as he says Bitcoin at $100,000 is an eventuality.

Secret symbol № 16: v What is this?

Source: Coin Telegraph




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Ronnie Moas Raises Bitcoin Target Again: $20,000 By Start Of 2018

Ronnie Moas, quite happily, keeps changing his mind on where Bitcoin will be in the new year.

November has been a busy week for famed stock picker Ronnie Moas who, on Nov. 4, predicted that by the beginning of 2018 Bitcoin would hit $11,000. That was recently blown out the water, but before the target was hit, he adjusted to $14,000.

Now, Bitcoin is on its way to smashing that new target causing Moas to readjust for the third time in a month as the digital currency revels in a new era of adoption and acceptance.

Moas looks at Bitcoin as a whole, incorporating all the chain splits in his split-adjusted price is and considering the price of the forked Bitcoin chains alongside the original was $12,740 when Moas made his new prediction, $14,000 looked undervalued again.

$20,000 is a month away

Moas now puts the line in the sand at $20,000 for the split-adjusted price when the new year hits. Looking at how things have gone so far for Moas, a month is a long time, and perhaps $20,000 will be broken before that time.

Many pickers, investors and money movers have thrown their hats into the ring trying to hit the sweet spot of this volatile asset when it comes to prediction.

Tom Lee, rather conservatively, set a Bitcoin growth of 40 percent to happen by the middle of 2018. His prediction put him at $11,500. That prediction was made a week ago, and in that time Bitcoin topped at around $11,300.

Max Keiser has a much more bullish view, but over a longer time frame as the host of Russia Today’s Keiser Report believes that $100,000 Bitcoin is an eventuality.

Why split-adjusted?

Moas, as one of the most well-regarded stock pickers, is clearly in the Bitcoin game for its investment potential rather than the technology side which has seen different factions at war with each other. Some people are vehemently Bitcoin Cash supporters, and others true fans of the original chain.

Moas, however, with his investor’s hat on, sees that by buying Bitcoin he not only received free Bitcoin Cash, but also free Bitcoin Gold, and thus counts them together in his portfolio, urging others to d the same as a diversification strategy.

Bitcoin Diamond and the real gold

“I am raising my 2018 fork- and split-adjusted price target on Bitcoin from $14,000 to $20,000,” Moas explained. “The current price is $10,720 and the split-adjusted price is now $12,740 when factoring in Bitcoin Cash, Bitcoin Gold and Bitcoin Diamond.”

Bitcoin Diamond is another fork of the Bitcoin chain that went largely unnoticed. Its aim is to switch from proof-of-work to proof-of-stake after mining is completed – after just 10,000 blocks.

“Bitcoin is now up split-adjusted by 394 percent since my July 3 recommendation,” Moas went on. “There is no way to justify Gold $7 tln at 40X Bitcoin ($180 bln). An argument can be made that Bitcoin will be equal to Gold within 10-15 years. I do not know how much Gold there is in the ground … I do not know how much Bitcoin there is.”

Source: Coin Telegraph




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Bitcoin Eyes $15k in 2018, But Don’t Ditch Forks: Interview With Ronnie Moas

Investor Ronnie Moas shares his opinions on Bitcoin’s future, with a particular emphasis on the currency’s many forks.

‘Prolific’ stock picker Ronnie Moas has had success with Bitcoin price predictions this year. From $2000 to $5000 and $7500 – all of these have come true for the investor who was earlier than most in the financial realm to advocate for cryptocurrency propagation.

Now, with an increasingly large number of subscribers eager to get his insight on what’s next, Moas is delivering more surprising advice. Holding on to Bitcoin forks is among his recommendations for cryptocurrency success going forward, something which may well upset some of the more die-hard Bitcoin Core supporters.

In an interview with Cointelegraph, Moas shared more about his perspective on prices, forks and Wall Street’s entry into the market in the form of CME Group’s futures trading next month.

Cointelegraph: The investment community is still split regarding even Bitcoin's short-term price prospects. Where do you stand in regard to the next 6-12 months? How much optimism (or pessimism) is overkill?

Ronnie Moas: In the next 6-12 months I expect that Bitcoin will make a push towards $15,000 (and possibly $20,000). I look at the ‘Bitcoin price’ as Bitcoin plus Bitcoin Cash plus Bitcoin Gold… by that calculation we [have already] hit $10,000 … up from $2,570 when I recommended Bitcoin in early July.

This is not a bubble and it is not irrational exuberance. Bitcoin is currently trading 80%-90% below where I think it's going in the next five years.

If 1% of the $200 trillion currently in stocks, cash, gold and bonds [all overvalued] worldwide ends up in Bitcoin, then Bitcoin will hit $125,000. An argument can be made that Bitcoin will eventually catch gold at about $250,000-$500,000 per coin. At what exact point they cross depends on how many years it takes and where gold trades at the time.

CT: What is your approach to the Bitcoin Cash phenomenon and its future? How do you see future fork attempts playing out?

RM: I strongly advise people to hold on to the spin-off coins Bitcoin Gold … and especially Bitcoin Cash. I think people learned their lesson a couple of weeks ago when Bitcoin Cash jumped by 150% in 48 hours while Bitcoin corrected by 20%. I am a strong believer in diversification.

CT: How would you assess the impact of CME Group's Bitcoin futures debut next month?

RM: The move by the CME is significant in that it is a stamp of approval of sorts on Bitcoin and cryptocurrency which now has a [300] billion dollar valuation – that is more than Goldman Sachs, Starbucks and General Motors… combined!

Anyone who is looking for a bubble should not be looking towards the top 20 crypto names… they should be looking towards the stock market as most names are now trading at (or above) 20X earnings.

Not only does the CME stamp serve as an endorsement of sorts – it also brings us one step closer to getting an ETF on Wall Street.

Once that happens, institutional money will start pouring in and retail investors will now be able to invest in crypto without worrying about opening up accounts on foreign exchanges and worrying about how to protect their accounts – which most people have difficulty figuring out how to do. In my opinion the floodgates will open in 2018.

CT: Which other cryptocurrencies are you a fan of based on technical robustness?

RM: I prefer for people to sign up for my service if they want my recommendations outside of Bitcoin. I have quite a few and I don't really like to give out my recommendations for free because then my subscribers get upset. Some names that I recommended doing well for my clients include but are not limited to Litecoin, Bitcoin Cash, Dash, Monero and Stellar Lumens.

Source: Coin Telegraph




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Bitcoin Will Be Safe Haven During Next Stock Market Crash, Says Expert

eToro analyst says financial institutions will turn to Bitcoin during a crisis.

As Bitcoin powered ahead to a new high for a second week in a row, some have speculated that institutional investors could seek safe haven in the virtual currency in the future. The prevailing rhetoric over the past month has been more affirming than damning of cryptocurrencies, with the likes of Ronnie Moas and Max Keiser predicting new highs in 2018. Speaking to RT, eToro analyst Mikhail Mashchenko says financial institutions could look to Bitcoin if a major financial crash hits global markets.

“The demand for Bitcoin is growing as the crypto market has become less volatile, and an increasing number of professional investors see it as insurance.”

Second-oldest bull market

The current bull market in stocks is the second-longest in history, according to Fortune, having lasted 104 months so far. The longest bull market in history ended in 2000 after an impressive 113 month run. With the current rally getting a bit long in the tooth, many on Wall Street are making contingency plans for the stock market’s inevitable turn. If Mashchenko is right, Bitcoin will have a role in some of these plans.

Shifting opinions

Mashchenko’s statements come on the back of changing sentiment in the mainstream financial sector. Last week, JP Morgan Chase announced plans to offer Bitcoin futures on the Chicago Mercantile Exchange – an important move by one of the biggest banking and financial services providers in America. Even more satisfying, this moves comes only months after Chase CEO Jamie Dimon condemned Bitcoin as a scam.

Online banking service providers and exchange operators LedgerX and Revolut are also adopting Bitcoin support. The former was recently cleared to offer Bitcoin derivatives as people look to do more than just trade the cryptocurrency.

“LedgerX launched its first long-term options for Bitcoin, with an expiration date of December 28, 2018. In the coming months, we will continue to see the ‘domestication’ of Bitcoin: the Chicago Board Options Exchange and the Chicago Mercantile Exchange are planning to launch tools based on the cryptocurrency in the near future.”

Big money

If and when a stream of institutional investors start investing large amounts of capital into cryptocurrencies, some of the stunning predictions made by Bitcoin bulls could well be realised. However, Mashchenko’s prediction was quite conservative, suggesting that Bitcoin reaching a $10,000 high by the end of 2017 would be driven by emotion rather than fundamentals:

“We could see a Bitcoin at $10,000 in a month or so. However, such a surge will be based on emotions, not on fundamental factors. So, further growth of the cryptocurrency will require something more than euphoria.”

Having hit the $8,000 mark last week, Bitcoin surged another $1,000 dollars in just a few days, breaching the $9,000 level during the Thanksgiving weekend. At press time, the price of Bitcoin sits at $9,500, just $500 below Mashcenko’s predicted level.

Source: Coin Telegraph




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