Bitcoin is falling steadily for the past several days, which has out a dead end to the terrific return of Bitcoin bulls since February. Between March and July, Bitcoin almost tripled in value and reached a peak of around $13,800. However, the prices since late June have tumbled, and BTC is currently reeling at around $9,500.
The fall in Bitcoin prices is widely being attributed towards the comments US President Donald Trump made against cryptocurrencies earlier this month. He had stated that he isn’t a big fan of Bitcoin and claimed that Bitcoin and other crypto are tools to facilitate anti-social activities like drug trafficking and money laundering. Since then, a continuous downfall in BTC prices has been witnessed.
Commenting on the current falling prices, McAfee tweeted on Saturday that though Bitcoin is under pressure for the US, it will start accelerating again in a week.
Bitcoin is under pressure from the U.S. and its price reflects it. But the U.S. has no real power in controlling CryptoCurrency. Just watch. A week from today Bitcoin will continue its meteoric rise.
— John McAfee (@officialmcafee) July 27, 2019
Earlier, replying to Trump’s remarks, John McAfee said that though drug cartels are using crypto, that doesn’t make the technology evil. He gave the example of telephone, automobile, and the internet, which, he said, have enormously helped crime expansion. Further, address Trump on Saturday, he said in a tweet,
I pray that you were unaware of what the CIA and your runaway “Justice” Department have been orchestrating in order to silence my Cryptocurrency views. If a sitting President would turn his head from such a monumental travesty of Justice, then America is lost.
McAfee is on the run for this entire week, first being hunted by the CIA, and then being detained by the Dominican Republic Armed Forces. After being released by the DRAF, McAfee and his wife have landed in London. He is also running for the US Presidential election of 2020, and, he admits, wants a shot at the UK Prime Ministerial election as well.