John McAfee on the cryptocurrency price crash: stop panicking

John McAfee says he’s seen it all before, arguing that a “glorious spring” is going to follow the current wintry conditions in the crypto markets…

Predictions of doom and gloom are not in short supply around the cryptocurrency market at the moment. However, even as the price of Bitcoin and pretty much every other cryptocurrency of note continues to tumble, there are one or two who are advising caution. More than that, advising people to just calm down and take the long term approach.

One of those people is controversial cryptocurrency advocate – and upcoming US Presidential candidate (again) – John McAfee. McAfee has regularly argued for the long game when investing in cryptocurrencies, and nothing that he’s seen in the last few days – a few days where prices have been decimated – is changing his mind.

In his latest Tweet on the matter, McAfee conceded that “people have panicked”. But also, he argued that there’s no need for them to do so. “We’re in a bear market”, he said. “They suck, yes”.

But he continued, adding that “I’m 73, and have seen this dozens of times in many markets. Bear markets are like winter. It’s always followed by a glorious spring”. He advised people to simply “relax”.

That said, his Tweet did phrase some of this in a slightly, well, different way. Here’s what he wrote…

Prices continued to fall overnight, and there’s no clear end in sight at the moment. We can but see what state everything is in once the current panic subsides…