Crypto Baron John McAfee: Bitcoin’s Price Drop Does Not Matter in Short Term, Get a Grip

Libra Coin News
Fri, 08/23/2019 - 11:03
Yuri Molchan
A permanent bull John McAfee comments on the community’s hysteria regarding the Bitcoin price drop, urges his followers not to pay attention to short-term falls
Cover image via www.123rf.com
Contents

For the past few days, the Bitcoin price has been going down and at one point even went down below the $10,000 threshold. The permanent crypto bull John McAfee who has been opposing the US government and its agencies, such as FBI and the IRS, as always, is trying to calm the community down.

In a recent tweet, McAfee urges the community to keep the chin up, saying that Bitcoin is still 300 percent higher in value than it was half a year ago and that short-term fluctuations do not matter.

Bearish sentiment arising

Recently, some experts have been sharing their pessimistic, or rather, careful, views regarding Bitcoin and the direction its price will be going in the short term.

One of them is the author of the best selling “Altcoin trader’s handbook’ on Amazon, Nik Patel.

He recently tweeted that Bitcoin’s dominance is about to shatter.

Image by Twitter

His today’s tweet contains a recommendation that should BTC dominance on the market tumble below 68 percent, you should start buying altcoins.

Related
Tron Founder Justin Sun Bashed by Community Despite New BTT Listings

CNBC’s Brian Kelly joins bears

Another crypto expert to support the bearish sentiment is the CNBC’s trader and investor Brian Kelly. In a recent interview, he stated that he is being careful with his bullish Bitcoin price predictions so far. The reason is that since July the amount of active BTC address has dropped.

Kelly also stated that the correction of Bitcoin has been going since the price dropped from the $13,000 level. This is due to the fact that the fundamentals have not supported the massive price surge.

At press time, Bitcoin is back above $10,000, showing a 1.20-percent increase over the past 24 hours.

Image by CoinMarketCap

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.