It's okay, I'm falling! Or John McAfee on the Bitcoin bear market

The odious prophet of the cryptocurrency world, John McAfee, believes that the bearish trend in Bitcoin will not last more than a month. Now is the time to buy crypto and not panic.

In his opinion, the avalanche-like panic around the fall of Bitcoin is caused by pressure from regulatory authorities. Increasing pressure from the state, the launch of an investigation against large cryptocurrency platforms Bitstamp, Coinbase, itBit and Kraken and the unfounded panic of traders led to the drain of Bitcoin, but McAfee is confident that the bearish trend is coming to an end and the recovery process before the start of a new bullish trend will take about a month.

Although McAfee’s opinion is trusted by 828,000 direct followers on Twitter, his calls were received ambiguously. Some supported the advice to be patient and not rush to panic. Some are confident that there are all the signs of market manipulation and this situation is a consequence of the actions of whales, their draining of large quantities of crypto in a couple of minutes. 

Such critics accuse McAfee himself of manipulating the price and the cryptocurrency of its centralization.

Indeed, the events taking place in the cryptocurrency market in recent days are more like a well-organized manipulation artificially keeping the market in the red. 

Bitcoin is currently trading at a two-month low, with a total capitalization of $117 billion. Since the beginning of the year, Bitcoin has already fallen by half. The target level to which the price today is approaching is 5920.00 USD. All cryptocurrencies are experiencing serious rate adjustments, losing on average up to 5 percent per week.