Don’t Panic Over Bitcoin Below $9,500, John McAfee Says As His Exile Continues

Popular cryptocurrency commentator and veteran entrepreneur John McAfee said that people shouldn’t panic over the price of Bitcoin dropping below $9,500. The serial entrepreneur is a well-known Bitcoin proponent and has expressed his positivity on the cryptocurrency for the long-term multiple times. However, his exile continues as he has admitted to not filing tax returns over the past 7 or more years. 

Bitcoin Below $9,500: Don’t Panic

The price of Bitcoin has gone through a serious setback in the past couple of days, losing upwards of $700 in a violent move downwards. For a brief period of time, it dropped below $9,500, causing many to believe that it will be testing the support levels around $9,200. 

Commenting on the matter was a long-term cryptocurrency proponent and veteran tech entrepreneur John McAfee. Being true to his sentiment, he said that “If you are panicking, you are a fool.”

*EMBED TWEET

McAfee has previously expressed his position on short-term fluctuations, saying that there’s absolutely no reason to get caught up in them as Bitcoin is a long-term play. It’s also worth noting that he was right to predict that Bitcoin will be surging just a couple of weeks ago, as Cryptopotato reported back on August 6th. 

McAfee’s Exile Continues

At the same time, however, McAfee’s exile continues as he has switched his current whereabouts once again after revealing that someone has publicly outed his previous “safe house.”

In a series of tweets, as well as in a recent interview with Bitcoin Radio, he once again stressed on the benefits that cryptocurrencies and blockchain-based technology offers. He said that this is a way for people to remain completely anonymous when transacting, while also stripping official authorities off the control they have over them. 

It’s also interesting to see whether or not McAfee will continue his 2020 Presidential run. Previously, he said that he will be running it from his boat. He has since been held in contempt, released, and moved to a few unknown locations. His exile continues and it’s unclear exactly how he will keep on running his Presidential campaign.