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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

McAfee’s Prediction: Only 365 Days Left, Bitcoin Trades 95% Below Dickline Projection

Tony "The Bull" Severino
Tony "The Bull" Severino
1 year ago
2 mins read
bitcoin crypto mcafee dickline million prediction btc

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Following Bitcoin’s meteoric rise into the public eye back in 2017, nearly every economist, analyst, and even regular Joe had a prediction for what the first-ever cryptocurrency would eventually be valued at.

However, few predictions are as famous as that of cybersecurity expert John McAfee, who put a particularly valuable wager at risk if his prediction didn’t come true – a prediction that Bitcoin would reach $1 million per BTC by the end of 2020. With just 365 days left to go, let’s see how the now-infamous “Dickline” is tracking.

Only 365 Days For Million Dollar BTC Prediction To Come True

On July 17, 2017, before Bitcoin broke above $10,000 and became a household name, cybersecurity pioneer John McAfee made a prediction that Bitcoin would reach $500,000 by the end of this year.

Related Reading | The Biggest FUD and FOMO Moments in Crypto 2019

If the bold prediction didn’t come true, the eccentric cryptocurrency industry influencer would eat his own “dick on national television.”

Later, he doubled down on the prediction claiming that it was based on a model used when Bitcoin was at $5,000, but because at that point Bitcoin had ballooned to $20,000 by its peak in December 2017, the model was now predicting $1 million per BTC by the end of 2020.

365 days left ⌛️ https://t.co/wZOcymLs4L

— The Crypto Monk (@thecryptomonk) January 1, 2020

But 2020 is now here, and there’s only 365 days left to go for McAfee’s prediction to come true, and Bitcoin price is currently trading at $7,200 – a far stretch and at least three additional figures shy of the target.

Bitcoin Price Down Over 95% From Dickline Projection

McAfee’s polarizing prediction took the crypto community by storm, with many believing the crypto promoter, while plenty more were skeptical of his antics. It even caused the community to launch a website devoted to tracking the progress of what’s been dubbed the McAfee “dickline.”

McAfee has also printed his own crypto-backed fiat money, has claimed to be running for the US Presidency in 2020 when he’s currently on the run, and plenty of other seemingly crazy shenanigans. However, stories like these are the norm for the former face of cybersecurity.

bitcoin crypto mcafee dickline million btc prediction

If there wasn’t enough reason to question the prediction’s validity already, Bitcoin price is currently trading 95% below the projection that would be required for Bitcoin to reach a million per BTC by year’s end.

To reach such a target, Bitcoin would need to be trading at $171,000 per BTC currently and continue to grow at a rate of 0.484095526 each day.

Related Reading | Bitcoin Price Yearly Candle Shows Failed Rally, Longest Wick on Record 

As of now, and given the recent price action Bitcoin has been exhibiting, reaching such a prediction seems rather unrealistic at this point. Still, it’s impossible to rule it out. This is Bitcoin and it can go on parabolic rallies that cause it to grow by thousands of percent in relatively short timeframes.

If it doesn’t, everyone will be watching and waiting to see if McAfee makes good on his word.

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Tony "The Bull" Severino
Tony "The Bull" Severino

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

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Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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