McAfee Advocates Long-Time Hodlers to Stay Bullish on Bitcoin

It’s been a wild ride for Bitcoin in December. ‎

Vocal Bitcoin supporter and businessman John McAfee remains bullish on the almost ‎nine-year-old cryptocurrency and expects that it will continue to rise in value.

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Even amidst concerns over Bitcoin’s hard forks and its recent violent price ‎fluctuations, the colorful founder of the first commercial anti-virus program believes the ‎cryptocurrency has a bright future.‎

To be sure, Bitcoin has undergone such split off events before. Also, ‎China cracked down on cryptocurrency exchanges, effectively ‎barring citizens from any related transactions, and the impact of both moves was ‎short-lived and Bitcoin’s price went up again.‎

Over the past weeks, McAfee was able to draw a huge amount of attention from the technology ‎and business press onto his social media profiles by making some very bold statements ‎regarding Bitcoin and some digital tokens.‎ Last Thursday, McAfee announced through his Twitter page that he will be discussing a new coin every day.

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It’s been a wild ride for Bitcoin in December. When the month started, the digital coin ‎was worth less than $10,000, but the value of Bitcoin has exploded since then as it was sold for ‎nearly $20,000 on December 17. Later, price has reversed from the all-time high, slumping as ‎much as 45 percent last week, before staging a strong rebound to around $16,000. ‎

While the frenzy prompted bubble warnings from observers, interest ‎from McAfee shows no signs of abating. The ‎man also repeated his rosy outlook ‎from last month when he doubled his previous price target for ‎Bitcoin, believing that the cryptocurrency will reach $1.0 million by the end of 2020.‎

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