BTC Developer Jameson Lopp: Bitcoin Price Undervalued about $33,800 as per McAfee’s “Dickline”
Bitcoin’s previous rally to near $20,000 has led to many wild price predictions. There is no doubt that at its current value at $3,980, it is undervalued by the standards of many analysts and price predictors.
One of the highest Bitcoin price predictions has been made by crypto influencer John McAfee at $1 million USD by the end of 2020. Back in July 2017, the cyber security expert and founder of anti-virus McAfee Labs has claimed that BTC would reach $500,000 in the next three years and offered to eat his own dick on national television if his prediction didn’t come true. However, he later revised his already staggering number to another level i.e. $1 million and reiterated his wager as well.
In response to this wild yet confident price prediction, a website called dickline.info has been created that tracks the BTC price’s progress with a 0.484095526% per day growth trajectory that would match up McAfee’s $1 million goal for BTC.
Now, according to the “dickline,” Bitcoin is currently undervalued by about 33,800, at its current price of $3,980. According to the infamous “dickline” Bitcoin price prediction tracker, in order to reach $1 million by 2021, it’s current price needs to be $37,933. But currently, is down by 89.52 percent.
John McAfee Reasserts his $1 Million
With McAfee running for the President in 2020, the “dickline” has been forgotten for the most part but the creator of Satoshi.info, Jameson Lopp, called out attention to this as he said, “Bitcoin is now undervalued by an order of magnitude according to dickline.”
— Jameson Lopp (@lopp) February 22, 2019
McAfee who is currently on the run from the US authorities recently, as we reported, doubled-down on his $1 million price prediction from 2017 while further stating, “It's the same prediction. $1 mil by the end if 2020. That's the only one I made. I never lose a bet.”
McAfee’s double down on his prediction came after Jesse Lund, the head of digital assets division at IBM recently at an event said that in the coming years the flagship cryptocurrency would actually hit $1 million while further adding, “'I like that number, because if Bitcoin is at $1 million, then a Satoshi will be equal to one U.S. penny, which would mean that there is over $20 trillion of liquidity in this network and this $20 trillion of liquidity would massively change the global financial services landscape.”
Many analysts have actually called out for Bitcoin bottom at the low of $1,800 and even $1,640 before a rally takes Bitcoin prices to the moon. With Bitcoin halving coming next year, it is expected Bitcoin will find the bottom in the first quarter of this year and then start a correction in the second quarter of 2019 but it won’t be seeing much price action. However, historically, Bitcoin could start seeing making its way a year before the bitcoin halvening in May 2020 and then start its bullish game that according to Poolin co-founder Zhu Fa could go to $740,000 which at the next pull-back can again drop 90 percent.