"The United States Government Has No Control Over Bitcoin"
According to veteran entrepreneur and popular cryptocurrency commentator John McAfee, that is because the U.S. has been putting pressure on Bitcoin. He remains unfazed and maintains that the price will climb back up in a week.
Just a few days after being released from confinement, John McAfee is back in charge of his Twitter account and is weighing in on Bitcoin.
Bitcoin’s price has been swinging lately with more red than green, and McAfee believes that pressure from the U.S. has been responsible for that.
McAfee is, as always, confident in his belief that the U.S. doesn’t have the power to control cryptocurrencies. He also thinks that Bitcoin’s bull run will resume one week from now.
In 2019 we saw Bitcoin’s price approach $14,000 as the bulls were in control. Since then, however, the cryptocurrency has been sliding down steadily. After a few days of swinging around the critical support at $10,000, the price plunged by $700 in about 10 minutes. $9,400 was a significant support level which the price has managed to stay above so far.
While a segment of the crypto community supports the idea that Bitcoin’s fall has been strongly related to pressure from the US, McAfee’s prediction for the next week is a glimmer of hope for the bulls.
At the time of this writing, Bitcoin is trading at around $9,500 and possesses a market cap of about $169 billion. It’s also worth noting that Bitcoin’s dominance rate has decreased by about 1 percent, indicating that altcoins have managed to regain some relative strength.
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