Silk road-founder-ross-ulbricht-predicts-bitcoins-price-falling-to-3200

[CryptGuardian]

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?

[avikz]

Is Ross Ulbricht using Medium from Prison?

Anyway, just like John McAfee, Ross also lost his relevance from crypto market. God bless your wealth if you believe a dark web drug dealer can predict about the future of the bitcoin price.

Bitcoin can't see an abrupt drop now at this point. If it happens, it will be a total massacre because all mining operations will be forced out of business and bitcoin network will become unusable!

[joe50]

Don't expect rise, my instinct told me it will fall and disappoint many people. The fall might hit 3k. This is not fud, but my observations.

[NotATether]

Is Ross Ulbricht using Medium from Prison?

He doesn't have internet access. He probably told the information in the article to a friend, during a prison visit, who subsequently wrote it on Medium and controls the Ross Ulbricht account there. Same with "his" twitter account.

[pixie85]

This is only true if:
-Ross is a world class technical analyst
-Ross is as an expert trader
-A fall in March is really a crash in Bitcoin not a false panic following a stock market crash.

None of the above is true so his analysis is nor worth my time.

[Harlot]

Is Ross Ulbricht using Medium from Prison?

Not directly though but through his lawyer, Ross Ulbricht passes written notes to his lawyer but before that the lawyer will change/edit some words for him not to have any legal issues. As on how Ross can analyze charts you can see that the lawyer might have given him printed copies of Bitcoin's latest chart where he can do his analysis by paper and then later on be scanned by them. As for his analysis I don't know why he is analyzing Bitcoin's chart on a long term period, from 2012-2019, since we all know that makes anyone's analysis for Bitcoin more inaccurate given that we are on a volatile market we really don't know where Bitcoin will be headed not unless we look at charts on a shorter time frame.

[thesmallgod]

Is Ross Ulbricht using Medium from Prison?

As for his analysis I don't know why he is analyzing Bitcoin's chart on a long term period, from 2012-2019, since we all know that makes anyone's analysis for Bitcoin more inaccurate given that we are on a volatile market we really don't know where Bitcoin will be headed not unless we look at charts on a shorter time frame.

Probably because he is in prison. He has a lot of time to go through many things and makes speculations and prediction. He is not different from others speculating and consider the recent fall in price of bitcoin, he might be right but not until it happens nobody will believe him

[krb91]

I look forward to accumulating within the 3.5k to 3k range if the price will get there. I'll DCA from 6k though.

[mahilchii]

If the price goes according to his prediction I will fill my bags and wait patiently until it turns green, I am not sure how these so called analyst are predicting.

Look a like he's an another John McAfee, I agree the BTC value might drop after Halving because the majority are waiting to sell their asset in a good price as this COVID-19 is still going and the lockdowns are in progress most of them might sell but this doesn't mean the value will go till 3.5k. I will just hold my asset for now I don't want to believe anyone..

[7788bitcoin]

Is Ross Ulbricht using Medium from Prison?

That was the case even i was thinking.

Anyway, just like John McAfee, Ross also lost his relevance from crypto market. God bless your wealth if you believe a dark web drug dealer can predict about the future of the bitcoin price.

If he was that great in predicting the future he would be sitting at home and having a good life rather than rotting in prison .

Bitcoin can't see an abrupt drop now at this point. If it happens, it will be a total massacre because all mining operations will be forced out of business and bitcoin network will become unusable!

The miners will hold on to it for a while before shutting down, there were times when they were mining at a loss during 2014 and 2015 and we know what happened historically. Even if we see a crash the market will always recover.
 

[Reatim]

His is not reliable to make such prediction that may believable because he had already lose His reputation in Cryptospace.

Though we are not in Good market shape now yet we are still in Good faith because the virus is slowly slowing the spread and also Halving is coming.

and also can't we just ignore message from unreliable people?because for me this only add bad effect and views for crypto users and most specially to those looking for entering investing again.

[Anonylz]

Actually in all honesty I think many will be ready and waiting to see that price, am sure those who bought during the previous dip to 3400 are very much happy they bought, well except for those who bought at the top,
In my opinion, let it fall, I believe it won't stay on that price for too long, btc has fallen severely and still rise to the occasion, am not worried, just hoping it will hit that predicted low price.
Happy Halving!

[TalkStar]

Not directly though but through his lawyer, Ross Ulbricht passes written notes to his lawyer but before that the lawyer will change/edit some words for him not to have any legal issues. As on how Ross can analyze charts you can see that the lawyer might have given him printed copies of Bitcoin's latest chart where he can do his analysis by paper and then later on be scanned by them.

That's interesting to see that this guy is spending prison time by analysing bitcoin price. I don’t wanna waste my time by following prediction like this where someone delivering predictions through his lawyers rather than wasting time for reducing own prison sentences. A man who is out of all connectivity is giving bitcoin price prediction from prison and we have to believe that,,huh . Most probably he is just trying to draw crypto communities attention to him where possibilities of getting political or economical help from someone to get bail is the real intention.

Lots of people have simillar wish to see their faces on crypto related blogs & news releases. From that wish they always try to shake crypto world by giving baseless prediction about bitcoin where 90% of their prediction gone wrong and rest 10% is part of the game.    

[Wexnident]

Why would we even have to consider this mans opinion on the state of the BTC market. It's only 1 - 2 months wait though, can't wait to see how his predictions fail quite miserably. Why is he even commenting on BTC though, he should just honestly spend his time peacefully in prison. He's basically just asking for a commotion and attention right now, that or those news agencies have nothing to report on hence, they pulled this out of nowhere. Besides, the crash that happened in march can mostly be attributed in the market panic due to various factories closing down and the like. It basically affected not only the stocks market but also the cryptomarket.

[Fundamentals Of]

Does the mention of his name make the prediction more credible?

These days we can see predictions left and right. But the common characteristic among all of them is that they are all speculations. These are all guesses. Ross Ulbricht's guess is no better than mine or yours.

[fiulpro]

Hello ,
I do think everyone knows that the silk road was a downside of the Bitcoin usage , silk road was controlled by people who are now facing charges in jail one should understand that when someone is facing charges one cannot trust their sources .
Also they do have limited contact with the world . I do not even think of trusting the person would be good and safe . Therefore I hope the community would make decisions on its own and stop looking up at people who are not even respected .
We have since then reduced the criminal activities to 10% and I do hope it with the years gets even less than that .

[davis196]

Should we trust a guy serving two life sentences in prison about the future price of Bitcoin?
Everyone has the right to express his opinions.This guy has lots of free time to write articles and to spread FUD.I am one of the people,who believe that the 2017 ATH will never be reached,but I don't think that Bitcoin might crash to a 3200 USD price and then never recover from it.I guess that the BTC price move in the 5K-10K USD area for the next few years.By the way,this thread belongs to the Speculation sub-forum.Why it isn't moved yet?

[20kevin20]

Not that I support drugs, crimes and human trafficking but I see so much hate against Ross from everyone here without even considering the fact that The Silk Road was one of the reasons many people started spreading the word about BTC. Although he did create a black market for illegal activities, without it and his conviction maybe some of us wouldn't be here right now. Personal opinion.

Most of the people I know have heard of Bitcoin from the news/internet and they always mention either "black market", "a website where illegal things are sold" or "silk road". I just feel like it's one of the key points that propped BTC to the adoption and popularity it has now.

[Febo]

Is this scenario likely?

It is very likely if we get a second wave of covid-19 first in China and then in Europe and USA. And first wave still active in Africa South America and Russia. We can have huge economic decline in 2020 and 2021.

[carlfebz2]

Is Ross Ulbricht using Medium from Prison?

Anyway, just like John McAfee, Ross also lost his relevance from crypto market. God bless your wealth if you believe a dark web drug dealer can predict about the future of the bitcoin price.

Bitcoin can't see an abrupt drop now at this point. If it happens, it will be a total massacre because all mining operations will be forced out of business and bitcoin network will become unusable!

Actually have the same thoughts but reading up the possibilities above which had been said then it do somewhat clear up my mind.It can actually be passed or relay on into other people
which would most likely to be his loved ones or his own lawyer but this kind of first impression last. 

Calls like these is already automatically be put up in ignore, We've seen lots in the past and no man can able to predict on what would future lies ahead.Even he's the founder of Silk road, it doesnt
mean that words came out from his mouth would like to happen but at least he do make up some clarification that this would be unlikely.