John McAfee Stands Firm On $1 Million BTC Price Prediction, Says Privacy Coins Are The Altcoin Winners

As cryptocurrency market turns red, Entrepreneur and vocal crypto advocate John McAfee doubles down on his 1 million Bitcoin price prediction.

McAfee’s response came as Bitcoin dropped about 20 percent in value while altcoins losses drastically. On July 15, McAffee wrote on Twitter,

Bitcoin is at the mid 10's and people worry. LMFAO!! Why do you pay attention to weekly fluctuations? Look at the past few months FFS! It's rising drastically. I'm still positive about my $1 mil BTC price by the end of 2020. Alt coins like MTC and Apollo will rise ten times more.

— John McAfee (@officialmcafee) July 14, 2019

Mcafee is not the only one with a 1 million price prediction but he is super confident of this as he replies, “I've never lost a bet. I cannot lose,” and that Bitcoin will be worth even “many times more.”

While BTC is currently down 49 percent from its all-time high of $20k at $10,180, the leading cryptocurrency has been showing features of a ‘store of value.’ Recently, the Fed Chairman Jerome Powell compared the crypto king with gold calling it a store of value.

Given the fact that the yellow metal has a market cap of over $7 trillion, Bitcoin have indeed big targets to hit in the future.

Privacy Coin Are The Winners

When it comes to altcoins, they are doing far worse than Bitcoin, down up to 14 percent.

According to McAfee, some altcoins will “rise ten times more” than Bitcoin. Though they are deep in red currently, he says daily, weekly, or monthly basis doesn’t matter, “Look three years out. There is no other way to get rich.”

Comparing the altcoins to the early days of IMB, McAfee advises, the focus needs to be on the project and not price.

The altcoin world wondering what to buy. Vertical markets don't vary. A medical company in the Crypto world will mirror its fiat counterpart. Med companies are the big winners, always. Privacy coins, in a world of crypto transparency likewise can't lose. use your heads.

— John McAfee (@officialmcafee) July 14, 2019

According to him, Monero among the privacy coins is more solid.