https://www.cryptoglobe.com/latest/2020/04/silk-road-founder-ross-ulbricht-predicts-bitcoins-price-falling-to-3200/


Ross Ulbricht predicts the price of bitcoin will fall to $3200 in 2020.
Ulbricht says bitcoin's impulse bull cycle is officially over following Mar. 12's market crash.

Silk Road Founder Ross Ulbricht predicts the price of bitcoin could fall to $3,200 over the next year.

Ulbricht, who is serving two life sentences in prison without the possibility of parole for his role in founding the dark web marketplace Silk Road, published a Medium post on April 11 giving his prediction for bitcoin’s price in 2020.

Ulbricht previously wrote in December 2019 that a drop below $4,200 would invalidate the impulse market for bitcoin and bring an end to the bullish cycle. Ulbricht claims his prediction was validated following Mar. 12’s cryptocurrency market crash, during which the price of BTC fell as low as $3,600.

He wrote:

"The cycle-degree bull market — from Bitcoin’s beginning to the ~$20,000 peak of late 2017 — is over. We are now in the last wave… of Bitcoin’s first cycle-degree bear market (the largest yet).

Ulbricht anticipates the bear cycle for bitcoin beginning around June or July 2020, with the currency potentially falling to $3,200.

He continued:

"A break below the major low of $3,200 will be a solid confirmation of this, at which point we will be trying to determine when the final low is in. This will be a major buying opportunity.

Ulbricht claimed that a price rise above $14K would invalidate his bearish scenario and require a re-evaluation of the market. However, he wrote that scenario would be “very unlikely.”


Is this scenario likely?

I they cannot control Bitcoin or crypto in general, they kill it's creator and replace them with a fraud operating with the US govt.
Now he ( the us govt) can claim copyrights of crypto and blockchain technology.
What implications would this have? Collaboration with the US govt, higher transaction fees ? Disowning of BTC, blockchain copyright, alt coins banning?

What are your thoughts on the following:

1. As does the Internet invented by the US Military so does Bitcoin by some US agency (Federal Reserve, CIA or NSA,...)  to have a cashless society and to counter the Dollar's declining World Dominance and value that cannot be sustained anymore.

2. Even the US Banks, whatever Group will accelerate this process for people to drive them into buying bitcoin and exchange all their money into crypto.
3.. Greed as stated in the bible will drive people into exchanging all their assets into crypto.

Ecclesiastes 11:1-2: Invest your money in foreign trade, and one of these days you will make a profit. Put your investments in several places – many places even – because you never know what kind of bad luck you are going to have in this world.

The Book of Revelation 13:16-17: And he causes all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads: and that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name.

4. Once crypto-currency will be mass used as a the leading currency and all people's  assets exchanged due to the fact the dollar's value keeping on plumeting , SHA-256 will be able to be decoded through the use of Quantum Computers on Android or other devices by the NSA and people's transactions read and in realtime therefore not only owned by yourself but any party with the decoding ability.

It's true, but everyone wants MORE & MORE $$$. If tomorrow there will be no more banks , there will be no more dollar.
Just like if everyone buys different altcoins, that will weaken Bitcoin and ultimately will also weaken altcoins themselves.
No more dollar means bye bye Western Civilization.  Hello Eastern Civilization.
Crypto is a danger to banks yes, but also a danger to yourself if you're a Westerner.
So those buying into crypto ultimately will kill the dollar, and Western superiority in the world. 
Because the cash will flow out of banks into crypto exchanges, mostly asian.
They manipulate the market, you'll end up broke , dollars to crypto , crypto to China/Japan, etc..

If China creates FUD, saying they'd ban this and that, then when everything drops they rebuy.
They probably hold the most coins of every country?

Just saw a sudden big increase? Did anyuone else notice?

That's pretty much what w'ere seeing right now Some people will be waking up in a nightmare

What if Bitcoins faults were deliberate?
As Bitcoin was the first one, it gaining popularity was logical. If Bitcoin was created and manipulated it by big whales , instances etc.. to let it gain in popularity?
So that once it has it's peak, letting it drop as they please,  people are beginning to doubt the usefullness of crypto in general, just by the fact that Bitcoin was created with weaknesses and flaws?
What if there was directly a crypto without those weaknesses, so that today we wouldn't have these high fees?

We had the internet , freedom to do whatever we like,  fun etc..yet it was called the WWW - World Wide Web.
Connected maybe, but eventually more like chained together, unable to escape because we got so dependant on it.
First make something so appealing that it get's massively adopted (microsoft did it, cheap windows with every pc) than once people are so used to it regulate the shit out of it.
And now with the end of Net Neutrality who knows what will happen?  This was not what we expected or wanted the Internet to be.

Now we got  BLOCK CHAIN.  That doesn't sound very freeish to me. Yet this is what people think it is, making them free of Banks, Corps, etc..
Nice gains in $, etc.. And more people putting all of their money into it.  It sounds too good to be true.
But what if all those banks, corps, elitits , just let this all get mass adopted , just to in the end get it regulated.

Do we even think about the risks? (hacking, blocked wallets, closed exchanges,...)  Could this in the end not be even worse than fiat, gold etc?
Do we have an exit plan if it turns out it wasn't what we wanted, just like the internet where we're so dependant on now.

If the real value of the dollar is worthless (no gold backing, printing endlessly) but everyone exchanging it for crypto, than wouldn't that eventually save the dollar/US ?
Making fiat money more valuable in the end than crypto?

Don't know about that last paragraph, just thinking out loud.
What are your thoughts?

What if the purpose of Bitcoin was all a hoax, a lie.
Just like Internet being 'Free' we now have the end of Net Neutrality

Still many men spend their money on those girls thinking they could.
The only laughing is the girl that puts their money in her pockets.

What I'm afraid off is the strange coincidence in of events  such as the rise in poplarity in cryptocurrency on one hand and now  a revealation in an hardware exploit ( hardware backdoor?) in cpu's, primarily Intel.
Asise from these specific vulnerabilities, others could exist that are not yet detected.

If crypto is a danger to the Dollar = (the US, corporate banking) then It wouldn't suprise me a bit that the NSA, FBI, CIA, HSA ... whatever entity would try to be able to control technology if that technology would be able to change the US's position as a superpower in the world . No Dollar = No USA.

True not true? Why wouldn't they?
I noticed exchanges being offline when people want to sell before the prices crashes even further.

Any conclusion to this? Decentralized vs Centralized
Decentralized coins down massively, Centralized up

Every coin went down by about 30% just before the weekend before Xmas.
My tought is it's a big whale(s) that sold before the Xmas crash that STILL will be coming but sold days earlier to buy back after the holidays.
The question now is Hodl or sell , presuming that saturday or sunday, it could go lower again.
We all should have see this coming, me included.
We need to react earlier than the whales in the future.

Isn't Dash much better than Bitcoin, And/or Bitcoin Cash/Litecoin?
What are your thoughts about possible Bitcoin replacements like Dash, Litecoin, Monero, Bitcoin Cash, Zcash?

In the mean time , DASH is hitting $937.98

Yesterday I sold my Bitcoins of 1.21 not at the highest thinking it would go down so I could do a rebuy , seeing a downward trend (-$200), but instead when waking up they were higher for about $200.

I initially bought them for $5500. Now I don't know what to do. If i need to rebuy the same amount it wil cost me about 450 dollars more then when I sold them, thus losing profit.

When SegWitx2 got cancelled and Bitcoin Cash skyrocketed I also forgot to sell and Hodl until I lost  all my profit.

Like BCH, the last days there seemed to be some big pumps into coins.
Will this happen more often from now on, should we be alert?

Seems Bitcoin is recovering +200$ in the last hour Good time to buy