Everyone familiar with the cryptocurrency industry must know or have heard of John Mcafee the die-hard crypto bull. Well, times have changed and it seems Mcafee is losing confidence in his bullish tendencies. Earlier today, McAfee went on his Twitter page to announce that he has turned to ‘staking pools’ as a rescue from the lingering bear market.
Bear market pushed me to invest in staking pools. Surprisingly good monthly returns:
Based on the post, he has invested in four staking pools namely GetNode, Simple POS Pool, Staking Lab and Stake Cube which he said has “surprisingly good monthly returns”.
It is such a surprise and a little disturbing, that John McAfee who is a strong Bitcoin optimist would turn to ‘staking pools’ citing bear pressure as his motivation for doing so. Does that mean he has lost hope in Bitcoin and his prediction that the asset will surge to $1 million by 2020?
McAfee predicted that Bitcoin will reach $1 million by 2020 apart from other bullish predictions he made in 2018 which didn’t come true and with a promise to eat his private part on national TV if the prediction does not come to pass. McAfee’s bold predictions have earned him a reputation in the crypto space which may have also affected him negatively.
The U.S government is reportedly after him for tax fraud for which he said he has not filed tax for the past 8 years. Earlier this year, he fled his home and said he would run his presidential campaign from a boat. Since then, not much has come from him until he broke the silence with the staking pool issue.
The market is indeed tough though, and many may be considering staking pools too, especially because McAfee has ventured into it. There was a brief relief that lasted only a few days and the bears returned, pulling down all the gains recorded. Although Bitcoin established a resistance around $3,800, the pressure has succeeded in bringing the price down to around $3,750 according to Coin Market Cap.
While many expect the year 2019 to be crypto friendly and many thought the bull run had started when Bitcoin rose above $4,000 for the first time in months, the expectations, of course, are down now that the market has taken a different turn. It is not certain if the trend will get worse or improve soon but all we can do is watch and see what happens in the next few days.