Eccentric crypto comedy-celeb and one-time cybersecurity entrepreneur John McAfee has predictably reneged on his famous Bitcoin bet, claiming it was simply a ‘ruse’ all along.

“Eat my dick in 12 months? A ruse to onboard new users. It worked,” he said in a recent tweet.

McAfee is famous for saying that he would “eat his own dick on live TV” if the price of Bitcoin had not reached $1 million by the end of 2020. Now, with the Bitcoin price still $993,000 short of the target and less than 12 months to the deadline, McAfee is clearly scared he might be expected to honor his bet.

Naturally, McAfee was never going to honor the bet and I’m sure nobody expected him to. However, rather than simply admit his mistake he has decided to instead make excuses. In the same tweet he went on to say:

“Bitcoin was first. It’s an ancient technology. All know it. Newer blockchains have privacy, smart contracts, distributed apps and more. Bitcoin is our future? Was the Model T the future of the automobile?” The long-time Bitcoin supporter appears to have given up on his once beloved coin in favor of newer technology, although he doesn’t specify exactly what.

In response to a challenge by Twitter user Peter Mueller (pmullr) that “word is bond”, McAfee went on a further rant:

“Wake the fuck up,” he replied, claiming that anyone who believed he would honor his bet is an “idiot” and that he hopes none of his followers are that stupid. To be fair, he isn’t wrong – I doubt any of his followers take anything he says too seriously.

Having now pulled out of the one thing that made him interesting, the crypto community waits with bated breath for the next hilarious “McAfee-ism”.

Bitcoin Price

While Bitcoin clearly never had any chance of hitting $1 million by the end of this year, there does appear to be a chance of a new bull run coming soon. The majority of the crypto market is in the green today, with XRP leading the charge with a 7.29% gain and Monero (XMR) not far behind at 7.06%.

Bitcoin is trailing behind with less than 2% in gains but it’s Moving Average Divergence Convergence (MACD) indicator on the weekly is showing signs of potential upward momentum. This, coupled with the recent period of relatively flat movement, could result in a trend reversal to the upside in the coming weeks.

Analysts predict that if the CME gap at $7,385 is filled this week then we have confirmation that bulls have taken control and we should see a move towards $10k in the medium to long term.