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  • Olivia Capozzalo sat down with McAfee interview him and started off by questioning him on Facebook’s upcoming Libra stablecoin.
  • McAfee was quoted saying Libra is a “grotesque distortion of the original intent of Cryptocurrency — economic freedom.”

In the world of crypto and blockchain, when you think of John McAfee, you tend to think of tweets on tech, bitcoin… and more recently, the presidential election for 2020. 

Olivia Capozzalo sat down with McAfee earlier in the year to interview him and started off by questioning him on Facebook’s upcoming Libra stablecoin. 

McAfee was quoted saying Libra is a “grotesque distortion of the original intent of Cryptocurrency — economic freedom.”

In response, McAfee said:

“Libra is a universal, digital identification that’s going to be rolled into the cryptocurrency, meaning that everything that you do with that currency can be monitored and traced back to you. 

Now, I’m a firm believer in privacy and even anonymity when it comes to our financial transactions. 

We each have the right to earn a living and to do what we wish with the money that we earn. I mean, if not, then we are still under the control of the financial system we’re trying to escape from.

That is the purpose of digital currency: to give control of currency back to the people rather than to governments and institutions that can control the currency that we use.”

Capozzalo then went onto ask what McAfee will be doing in his run for the 2020 presidential campaign.

“So, let’s not talk about what I would do the first day in office. Let’s talk about what I’m going to do while running, which is to raise awareness — not just in the U.S., but around the world. 

I want to educate people about how fiat currencies are their prison and the means that governments use to make a society of slaves.”

More recently and as previously reported by CryptoDaily, the computer programmer said the following:

“When a President sits down, these people are looking at him like he’s nothing. He’s only there for four years and these individuals might be there for eight, but people who control things have been there for thirty or forty years. The Presidents are meaningless to them. I don’t want to be a President.”

For more news on this and other crypto updates, keep it with CryptoDaily!

Robert Johnson , 2019-11-24 09:00:00 ,

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NewsBlock © 2019 - 2020 All rights reserved.

NewsBlock © 2019 - 2020. All rights reserved.


While Bitcoin’s price seemingly moves without rhyme or reason — collapsing by dozens of percent and embarking on face-melting rallies on a whim — the cryptocurrency market is filled to the brim with fractals.

Related Reading: Analyst: Bitcoin Price Likely to Fall to Low-$8,000s as Chart Remains Weak

A brief aside: A fractal, in the context of technical analysis and financial markets anyway, is when an asset’s price action is seen during a different time. This form of analysis isn’t that popular, but it has proven to be somewhat valuable in analyzing Bitcoin.

One recent fractal popularized by a well-known cryptocurrency trader is implying that BTC is going to return to the low-$7,000s in the coming days.

Bitcoin Fractal Implies Retracement to Low-$7,000s

A well-known crypto trader going by “Tyler Durden” on Twitter recently posted the chart below, which shows that a Bitcoin price fractal may be playing out. The fractal has four phases: horizontal consolidation marked by one fakeout, a surge above the consolidation phase, a distribution, then a strong drop to fresh lows.

If the fractal plays out in full, BTC could reach the low-$7,000s again, potentially as low as $7,100. This would represent a 20-odd percent collapse from the current price point of $8,800.

It isn’t only a fractal that is hinting Bitcoin has the potential to visit its lows. As we reported on Saturday, Bloomberg believes that if the GTI Vera Convergence Divergence Indicator flips red, a downtrend could push the cryptocurrency back to $7,300.

Related Reading: Stephen Colbert Pokes Fun at Bitcoin in Monologue: Mainstream Gone Wrong?

Can Bulls Step In?

But again, many believe it is irrational to have such bearish interpretations of the cryptocurrency’s chart at the moment. As reported by NewsBTC earlier, Popular crypto trader Mayne recently noted that the “people waiting for $6,000” are irrational. He quipped that Bitcoin retracing and consolidating after its fourth-biggest bull move in history ($7,300 to $10,500, a 42% gain) is perfectly par for the course, but noted that it’s totally possible we can go lower from $8,800.

The medium-term technicals support this.

Trader and CoinTelegraph contributor FilbFilb found that by the end of November or start of December, the 50-week and 100-week moving averages will see a “golden cross,” which he claims is far more significant” for the Bitcoin market that other technical crosses.

Also, a Bitcoin price model created using Facebook Prophet machine learning found that the leading cryptocurrency is likely to end the year at just over $12,000. What’s notable about this model is that it called the price drop to $8,000 months in advance, and forecasted a ~$7,500 price bottom for BTC.

To put a cherry on the cryptocurrency cake, Crypto Thies observed that when Bitcoin bottomed at $7,300, it bounced decisively off the 0.618 Fibonacci Retracement of the move from $3,000 to $14,000, which correlates with the two-week volume-weighted moving average. He added that summer 2019’s consolidation was marked by Bitcoin flipping major resistances into support levels, implying that a bullish reversal and subsequent continuation is likely possible in the coming weeks.

Featured Image from Shutterstock


Nick Chong , 2019-11-10 12:00:38

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