Bear Markets Are Like Winters, Which Are Always Followed By A Glorious Spring- Says John McAfee
Bear markets are like Winter. They are always followed by a glorious spring – John McAfee
The cryptocurrency market has seen possibly the worst crash in the history of the industry. The top cryptocurrency Bitcoin has been on a free fall in the last few days and all the other top cryptocurrencies have followed suit. This has created a lot of panics especially for investors and there is tension as it is not certain how low the market will fall.
“People have panicked. But there's no fucking need. We’re in a bear market. They suck, yes, and not like a hooker with no teeth. But I’m 73 and have seen this dozens of times in many markets. Bear markets are like Winter. It’s always followed by a glorious Spring. Fucking relax.”
McAfee has been an ardent believer in bitcoin who has made several bullish predictions concerning the asset. Prominent among his predictions is the $1 million prediction for 2020. He had also predicted a price of $15,000 for the month of June in 2018 which did
not come to pass.
However, he is still optimistic that his 2020 prediction will come to pass. Therefore it is not surprising that he still sees a bright future for the asset despite the current enduring fall. McAfee’s post has generated comments from many Twitter users most of which saw it as a relief. A user by the name of Radoslav wrote:
“Thank you John, that is what I needed to hear 🙂 when I opened my eyes in the morning and saw another red day”
So far Bitcoin has lost more than 70% of its value this year and many other crypto assets have lost varying proportions of their values as well. There is, however, no sign of recovery in sight as the price seems to be declining by the second.
Even if McAfee is right, the result may not be ready to show up in the next few days. It will probably take some time as some experts say the crash has come to stay. It will be interesting though to see what happens in the rest of the week. Are we headed for $100 or we are going to recover?
The idea of expressing one’s views and reviews through words is beyond intriguing. What started as a creative let out has now become a passion and a profession for Arshmeet K Hora. In her own words ” with every word, every article that I write, my passion towards this medium has grown stronger.” Arshmeet covers latest crypto news and updates as well as what happening new revolving around Blockchain Technology.