Vitalik Buterin Commented on Bitcoin Price Forecasts From John Mcafee and Nouriel Roubini
By Marko Vidrih on The Capital
In his April 6 tweet, Ethereum creator Vitalik Buterin noted that cryptocurrency price forecasts are “notorious for turning out very wrong” — both on the bull and the bear sides.
According to Buterin, the worst bullish forecast for the price of bitcoin was made by John McAfee. In 2017, he announced that “Bitcoin will be worth $1 million by the end of 2020.” He promised to eat his penis if the forecast does not come true but later said that this forecast was just a trick for new users (the forecast also fell into the top 10 unsuccessful forecasts of the decade according to Bloomberg).
Buterin chose the tweet of the famous American economist and cryptocurrency critic Nouriel Roubini as the most inaccurate bearish forecast. In February 2018, amid a rapid drop in the price of bitcoin from a historic high of about $20,000, Roubini said that the price of bitcoin is approaching zero.
Pointing to these bad predictions, Buterin raised the question of the responsibility of those with high authority in the community:
Buterin himself was not seen in making forecasts limited by time or course. Nevertheless, he could not avoid his share of criticism in the raised topic. Gabor Gurbach, head of VanEck’s digital asset business, reminded the developer that he was repeatedly mistaken when he called the development dates for Ethereum.
“I agree I was wrong on many of those!” — said Buterin.
Author: Marko Vidrih
Featured image credit: bloqwire.com