Crytocurrency enthusiast John McAfee is advocating remaining bullish on bitcoin urging investors to hold on to the digital asset despite a downturn over the weekend that saw it lose nearly half of its value from its December peak. On Dec. 25, McAfee, founder of the McAfee anti-virus software company, said: “Bitcoin is still the crypto giant. It is at a low price, and will never be cheaper,” he tweeted. “It will be ten times this price in 2018. Remember — it has the lowest circulating supply of any coin,”
It has been a tumultuous week for John McAfee who, days ago, claimed his phone had been hacked and used to push recommendations about more obscure virtual currencies others should invest in. In subsequent tweets he has advised against investing in the likes of Verge saying "recommended Verge when it was less than a penny - saying it might rise 100% to two pennies. The price has been wrongly pumped beyond reason by referencing fake Twitter accounts and Instagrams which I have never had".
McAfee has been among the most vocal bitcoin supporters predicting that the world’s most prominent cyber-currency would see a single unit reach an astonishing $1 million in value by 2020.
Overall, bitcoin’s price has climbed more than 1,550% in 2017.