If you do not know the name of Ross Ulbricht, it is normal, but surely you will know the “Silk Road” (Silk Road). Well, he is the creator and operator of the Silk Road on the darknet, from 2011 to 2015. And today Ross Ulbricht tells us that “there are signs that bitcoin price will drop“
Ross William Ulbricht was arrested in 2015, charged with money laundering, hacking, conspiracy, document trafficking, for possessing fraudulent documents, and for helping drug traffickers on his platform.
In that same year, he was sentenced to a double life sentence, plus 40 more years, without the possibility of parole. And today from prison he tells us this warning: “There are signs that the price of Bitcoin will fall.”
There are signs that Bitcoin price will fall
Ross Ulbricht has predicted a Bitcoin price drop of $ 4,200 in the coming months, as resistance levels today, according to the character, are unable to maintain price levels.
“The price of Bitcoin fell months before to $ 4,000. Meeting the requirement of my model. With bullish sentiment removed, the future outlook becomes clearer. ”
In the model of the creator of the Silk Road, he predicts 5 great moments of momentum, the latter being the one that brought BTC to $ 20,000. “Since Bitcoin’s price rose to its all-time peak in 2017 at $ 20k, the bullish cycle ended”
Now, according to Ulbricht, we are still in the first bearish momentum, after 3 years, “the most durable so far”.
Estimating the scope and duration of the next wave, for the famous character, is a bit complicated.
“There is no limit to how low the next wave can be, except $ 0. There is also no limit to how long it can last. “
Final analysis
As noted above, the end of Wave II will be accompanied by extreme pessimism and possibly antagonism towards Bitcoin, on par with the extreme optimism that accompanied the end of Wave I.
It will take strength to buy in that environment, but the rewards like Wave III takes prices to new highs will be worth it.
Do you trust the opinion of this character and his prediction that “there are signs that the price of Bitcoin will fall”?
Thanks to Ross Ulbricht, everyone in the crypto ecosystem had to fight to eliminate the stigma that was forged next to Bitcoin and cryptocurrencies, but it also contributed too much to the cryptoverse.
