{"id":372419,"date":"2019-02-22T20:00:02","date_gmt":"2019-02-22T20:00:02","guid":{"rendered":"https:\/\/wncen.com\/?p=372419"},"modified":"2019-03-11T20:33:45","modified_gmt":"2019-03-11T20:33:45","slug":"bitcoin-price-btc-undervalued-dickline","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-btc-undervalued-dickline\/","title":{"rendered":"Bitcoin Price (BTC) Undervalued By Nearly $34K According to Infamous Dickline"},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\">Bitcoin\u2019s recent bullish rally has helped the leading crypto asset <a href=\"https:\/\/wncen.com\/2019\/02\/20\/crypto-galaxy-s10-jpm-coin-bitcoin\/\">return to mean<\/a> after $6K support was penetrated by bears. Given its potential, it&#8217;s clear to see that <a href=\"\/tag\/bitcoin\" rel=\"nofollow\">Bitcoin<\/a> is currently undervalued by most analyst\u2019s standards. Bitcoin price predictions place the number one crypto by market cap in the hundreds of thousands, with some estimates reaching a staggering $1 million USD. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Such an estimate was made my the eccentric cyber security expert turned crypto influencer <a href=\"\/tag\/john-mcafee\/\" rel=\"nofollow\">John McAfee<\/a>, who offered to eat his own \u201cdick on national television\u201d if his prediction didn\u2019t come true by the end of the year 2020. Since that bold claim was made, the crypto community has been watching Bitcoin price closely, tracking it in accordance with the McAfee \u201cdickline.\u201d<span class=\"Apple-converted-space\">\u00a0 <\/span>According to the infamous \u201cdickline,\u201d Bitcoin is currently nearly $34K undervalued.<\/span><\/p>\n<h2 class=\"p1\"><span class=\"s1\">Bitcoin Falling Short of Dickline Trajectory to McAfee\u2019s $1M Prediction <\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\">Back in July of 2017 before Bitcoin price truly went parabolic, founder of anti-virus pioneer McAfee Labs, John McAfee, <a href=\"https:\/\/wncen.com\/2017\/07\/18\/john-mcafee-claims-one-bitcoin-will-worth-us500000-three-years\/\">made a claim<\/a> that it would reach $500,000 per BTC \u201cwithin three years.\u201d He later revised his estimate based on a new prediction model due to how quickly the cryptocurrency\u2019s value skyrocketed, and <a href=\"https:\/\/wncen.com\/2017\/11\/29\/john-mcafee-ups-2020-prediction-1000000-btc\/\">changed it to $1 million by the end of 2020<\/a>. He also reiterated his commitment to his wager.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">When I predicted Bitcoin at $500,000 by the end of 2020, it used a model that predicted $5,000 at the end of 2017. BTC has accelerated much faster than my model assumptions. I now predict Bircoin at $1 million by the end of 2020. I will still eat my dick if wrong. <a href=\"https:\/\/t.co\/WVx3E71nyD\" rel=\"nofollow\">pic.twitter.com\/WVx3E71nyD<\/a><\/p>\n<p>&mdash; John McAfee (@officialmcafee) <a href=\"https:\/\/twitter.com\/officialmcafee\/status\/935900326007328768?ref_src=twsrc%5Etfw\" rel=\"nofollow\">November 29, 2017<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p class=\"p1\"><span class=\"s1\">Following McAfee&#8217;s tweet, the crypto community became so enamored with the wild yet confident prediction that a website was developed called <a href=\"http:\/\/dickline.info\" target=\"_blank\" rel=\"noopener noreferrer nofollow\"><span class=\"s2\">dickline.info<\/span><\/a> that was dedicated to tracking Bitcoin\u2019s progress along a plotted 0.484095526% per day growth trajectory that would match up with McAfee\u2019s end goal for BTC.<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading |\u00a0<a href=\"https:\/\/wncen.com\/2019\/02\/13\/bitcoin-bottom-entire-btc\/\">Bitcoin Bottom Doesn\u2019t Matter, Last Time General Population Can Afford Entire BTC<\/a><\/strong><\/em><\/p>\n<p class=\"p1\"><span class=\"s1\">The infamous \u201cdickline\u201d had been mostly forgotten about as McAfee distracted the world with his antics, which includes a Presidential run in 2020, a <a href=\"https:\/\/wncen.com\/2018\/05\/29\/no-hoax-mcafee-coin-could-turn-fiat-on-its-head\/\">crypto-backed fiat currency<\/a> that adorns his likeness, and his going into exile to avoid paying taxes to the IRS.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">However, outspoken cypherpunk and creator of S<span class=\"s2\">atoshi.info<\/span> Jameson Lopp didn\u2019t forget, and recently called attention to how <a href=\"\/tag\/bitcoin\/\" rel=\"nofollow\">Bitcoin<\/a> is grossly undervalued according to the &#8220;dickline&#8221; trajectory.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Bitcoin is now undervalued by an order of magnitude according to <a href=\"https:\/\/t.co\/yMvYnhQJB5\" rel=\"nofollow\">https:\/\/t.co\/yMvYnhQJB5<\/a> <a href=\"https:\/\/t.co\/Cn3lwTfBoZ\" rel=\"nofollow\">pic.twitter.com\/Cn3lwTfBoZ<\/a><\/p>\n<p>&mdash; Jameson Lopp (@lopp) <a href=\"https:\/\/twitter.com\/lopp\/status\/64974594?ref_src=twsrc%5Etfw\" rel=\"nofollow\">February 22, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p class=\"p1\"><span class=\"s1\">According to the site, Bitcoin price is currently 89.51% below where the leading crypto\u2019s value would need to be to reach $1 million by the end of 2020. For Bitcoin to reach such a milestone, it should currently be valued at $37,797 according to the site. The number one crypto by market cap is currently trading at around $3,930 \u2013 suggesting that BTC is undervalued by nearly $34K.<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading |\u00a0<a href=\"https:\/\/wncen.com\/2018\/08\/30\/john-mcafee-interview-bitcoin-will-become-the-gold-standard\/\">John McAfee Interview: \u2018Bitcoin Will Become The Gold Standard\u2019<\/a><\/strong><\/em><\/p>\n<p class=\"p1\"><span class=\"s1\">While many believe that Bitcoin will indeed reach incredible value if its potential is ever fully realized, a $1 million per BTC prediction may be unreachable as it would put its market cap somewhere around $21 trillion dollars. If it doesn\u2019t reach the lofty goal set by McAfee, crypto enthusiasts will be disappointed Bitcoin didn\u2019t reach it, but they\u2019ll surely be tuning in to watch McAfee stay true to his word on national television.<\/span><\/p>\n<pre>Featured Image from Shutterstock<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin\u2019s recent bullish rally has helped the leading crypto asset return to mean after $6K support was penetrated by bears. Given its potential, it&#8217;s clear to see that Bitcoin is currently undervalued by most analyst\u2019s standards. Bitcoin price predictions place the number one crypto by market cap in the hundreds of thousands, with some estimates reaching a staggering $1 million USD. Such an estimate was made my the eccentric cyber security expert turned crypto influencer John McAfee, who offered to eat his own \u201cdick on national television\u201d if his prediction didn\u2019t come true by the end of the year 2020. Since that bold claim was made, the crypto community has been watching Bitcoin price closely, tracking it in accordance with the McAfee \u201cdickline.\u201d\u00a0 According to the infamous \u201cdickline,\u201d Bitcoin is currently nearly $34K undervalued. Bitcoin Falling Short of Dickline Trajectory to McAfee\u2019s $1M Prediction Back in July of 2017 before Bitcoin price truly went parabolic, founder of anti-virus pioneer McAfee Labs, John McAfee, made a claim that it would reach $500,000 per BTC \u201cwithin three years.\u201d He later revised his estimate based on a new prediction model due to how quickly the cryptocurrency\u2019s value skyrocketed, and changed it to $1 million by the end of 2020. He also reiterated his commitment to his wager. When I predicted Bitcoin at $500,000 by the end of 2020, it used a model that predicted $5,000 at the end of 2017. BTC has accelerated much faster than my model assumptions. I now predict Bircoin at $1 million by the end of 2020. I will still eat my dick if wrong. pic.twitter.com\/WVx3E71nyD &mdash; John McAfee (@officialmcafee) November 29, 2017 Following McAfee&#8217;s tweet, the crypto community became so enamored with the wild yet confident prediction that a website was developed called dickline.info that was dedicated to tracking Bitcoin\u2019s progress along a plotted 0.484095526% per day growth trajectory that would match up with McAfee\u2019s end goal for BTC. Related Reading |\u00a0Bitcoin Bottom Doesn\u2019t Matter, Last Time General Population Can Afford Entire BTC The infamous \u201cdickline\u201d had been mostly forgotten about as McAfee distracted the world with his antics, which includes a Presidential run in 2020, a crypto-backed fiat currency that adorns his likeness, and his going into exile to avoid paying taxes to the IRS. However, outspoken cypherpunk and creator of Satoshi.info Jameson Lopp didn\u2019t forget, and recently called attention to how Bitcoin is grossly undervalued according to the &#8220;dickline&#8221; trajectory. Bitcoin is now undervalued by an order of magnitude according to https:\/\/t.co\/yMvYnhQJB5 pic.twitter.com\/Cn3lwTfBoZ &mdash; Jameson Lopp (@lopp) February 22, 2019 According to the site, Bitcoin price is currently 89.51% below where the leading crypto\u2019s value would need to be to reach $1 million by the end of 2020. For Bitcoin to reach such a milestone, it should currently be valued at $37,797 according to the site. The number one crypto by market cap is currently trading at around $3,930 \u2013 suggesting that BTC is undervalued by nearly $34K. Related Reading |\u00a0John McAfee Interview: \u2018Bitcoin Will Become The Gold Standard\u2019 While many believe that Bitcoin will indeed reach incredible value if its potential is ever fully realized, a $1 million per BTC prediction may be unreachable as it would put its market cap somewhere around $21 trillion dollars. If it doesn\u2019t reach the lofty goal set by McAfee, crypto enthusiasts will be disappointed Bitcoin didn\u2019t reach it, but they\u2019ll surely be tuning in to watch McAfee stay true to his word on national television. Featured Image from Shutterstock<\/p>\n","protected":false},"author":517,"featured_media":372425,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3],"tags":[428,679,26458,11381,7564,10709],"class_list":["post-372419","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bitcoin","tag-bitcoin-price","tag-dickline","tag-jameson-lopp","tag-john-mcafee","tag-price-prediction"],"acf":[],"yoast_head":"\n<title>Bitcoin Price (BTC) Undervalued By Nearly $34K According to Infamous Dickline<\/title>\n<meta name=\"description\" content=\"According to the infamous \u201cDickline\u201d based on John McAfee&#039;s $1 million per BTC by EOY 2020 prediction, Bitcoin price is currently nearly $34K undervalued.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/bitcoin-price-btc-undervalued-dickline\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Price (BTC) Undervalued By Nearly $34K According to Infamous Dickline\" \/>\n<meta property=\"og:description\" content=\"According to the infamous \u201cDickline\u201d based on John McAfee&#039;s $1 million per BTC by EOY 2020 prediction, Bitcoin price is currently nearly $34K undervalued.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/bitcoin-price-btc-undervalued-dickline\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2019-02-22T20:00:02+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-03-11T20:33:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/02\/bitcoin-price-btc-mcafee-shutterstock_766056682-1100x619.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1100\" \/>\n\t<meta property=\"og:image:height\" content=\"619\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tony &quot;El Toro&quot; 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The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. 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His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \\\"The Bull\\\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. 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The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \"The Bull,\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. 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