By CCN Markets: John McAfee hasn’t been talking about cryptocurrency very much lately, preferring to focus on his political agenda heading into 2020. This changed on Thursday when the mercurial tech provocateur posted a tweet urging his followers to keep their faith in Bitcoin.
Bitcoin jitters? Just stop it! Short term fluctuations are meaningless. Bitcoin is still up almost 300% from 6 month’s ago. Everytime there’s a dip I have to calm people in replies, DMs, etc. GET A GRIP! You know in your heart Bitcoin cannot lose.
— John McAfee (@officialmcafee) August 22, 2019
John McAfee Reassures Fans Over Bitcoin Price
Unsurprisingly, Bitcoin perma-bull John McAfee is facing a barrage of messages from his worried fans about BTC. It has not been a good few days for the Bitcoin price, as the largest cryptocurrency by market cap lost over $1000 of its value in the last 24 hours. Though now above $10,000, BTC/USD is well off its highs of nearly $13,000 YTD.
McAfee Allegedly Finds Himself In Russian Wilderness
For many crypto enthusiasts, seeing McAfee tweeting about digital currency will have brought a warm glow to their hearts. As the tax exile has fled from the Caribbean to Europe before finding himself in a faraday cage, the tweets have been more concerned with oppression in the United States than Bitcoin advocacy. Recent volatility has sparked John into feeling the need to reassure his crypto flock that everything’s going to be alright.
The perfect mathematics of the blockchains (yes – there are many different blockchains). As a mathematician, this is how the blockchain math would sound, to me, if it was music. pic.twitter.com/PszRHwGW7b
— John McAfee (@officialmcafee) August 19, 2019
In regards to his location, McAfee is suggesting that he is currently staying in Novaya Zemlya. If true, this is far removed from his sunny boat trips in the Bahamas. Novaya Zemlya is a barren, frigid archipelago in Russia, which may even be contaminated with nuclear fallout from a disastrous bomb test in the late 80s (and don’t forget about the Polar Bears.)
In February, here in Novaya Zemlya, there was a massive invasion of Polar bears. At least that’s what the villagers claim. Not sure I believe it, but still axious to wrestle one to the ground and eat its heart. The villagers clain it gives immortality. Could use me some of that.
— John McAfee (@officialmcafee) August 21, 2019
Chinese Yuan and Brighter Risk Sentiment Weigh On Bitcoin
From a supply standpoint, moves in Bitcoin are never easy to explain.
People looking for a precise correlation between risk appetite (performance of global equities) were disappointed when BTC/USD appeared to lose its safe-haven status. However, brighter risk sentiment in traditional markets does seem to have subdued Bitcoin. In particular, a stronger Chinese Yuan looks to have been a bearish development.
Click here for a real-time bitcoin price.