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Bitcoin Bull John McAfee Urges Community to Stimulate BTC Rise

  • Yuri Molchan
    📰 News

    The crypto baron John McAfee is concerned with the recent Bitcoin price reversal and encourages his followers to stimulate BTC rise at any cost

Bitcoin Bull John McAfee Urges Community to Stimulate BTC Rise
Cover image via news.u.today
Contents

The former antivirus magnate, now a US presidential candidate and a crypto promoter, John McAfee is a long-term Bitcoin bull, probably one of the most extravagant BTC supporters.

He is famous for his stunning predictions of the BTC price and the bets that he made on them. His most famous one is that Bitcoin will hit $1 mln by December 31, 2021.

‘What will stimulate Bitcoin’s rise? Use it!’

When Bitcoin price made small reverses earlier this year, McAfee optimistically wrote on his Twitter page that small price reversals do not matter, reminding the community that since the beginning of 2019, Bitcoin had already risen over 200 percent.

However, McAfee’s reaction to the Bitcoin price collapse that took place earlier this week is different. Now he is encouraging his followers to do whatever they can to stimulate the price of the most popular cryptocurrency.

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Possible reasons for the Bitcoin price collapse

As reported by U.Today earlier, the crypto community has been discussing several crucial reasons for the recent Bitcoin’s major decline.

Among them, is the weak start of Bitcoin futures trading on Bakkt, the troubles Libra currency has been having with regulators and a few others.

The fastest way to get crypto news is to follow our Twitter. You won’t miss a thing! Subscribe.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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Bitcoin Price Likely to Decline to $7,800: Crypto Analyst

  • Yuri Molchan
    📰 News

    Bitcoin is to find support at $7,800 or recover to $8,300, an analyst writes, but either way ‘continuation of the ranging on either of the levels is going to occur’

Bitcoin Price Likely to Decline to $7,800: Crypto Analyst
Cover image via www.123rf.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Over the last few days, Bitcoin has been trading below the $8,500 area. At the moment, it has recovered to $8,258 after the recent slip below the $8,100 level.

Analysts have been bullish on BTC in the long run, however, the nearest BTC price movements are expected to be bearish.

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The crypto analyst @CryptoMichNL believes that there are two paths ahead of Bitcoin at the moment. If it fails to recover to $8,300, he says on his Twitter page, then the market should be ready for the flagship coin to drop and find support at the $7,800 or $7,300 levels.

Whichever way it goes, ‘continuation of the ranging on either of the levels is going to occur’.

The analyst tweeted this forecast twice with an hour pause.

The fastest way to get crypto news is to follow our Twitter. You won’t miss a thing! Subscribe.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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