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Silk Road founder can see a bear market lasting until next year…

Silk Road founder can see a bear market lasting until next year…
  • Over the past month, many people are trying to make sense of the situation at hand in the crypto space. 
  • Ross Ulbricht is one of the people who is well known in the industry as the infamous founder of the Silk Road operation. 

Over the past month, many people are trying to make sense of the situation at hand in the crypto space. Ross Ulbricht is one of the people who is well known in the industry as the infamous founder of the Silk Road operation. Ross is currently serving a double life imprisonment of 40+ years without the possibility of parole in the United States based prison.

Whilst in prison for his crimes, Ross has been offering his analysis on cryptocurrency and currently thinks that the market dynamics as they stand, don’t stand in favour of the flagship crypto coin in the short term. However, it could be good in the long term for the industry and the coin itself.

In fact, due to the uncertainty surrounding the market right now, it’s coin could see bearish Paul fuelled by the current market volatility. He says that if this was to continue, BTC could drop as low as the $3000 range. Furthermore, he expects the crypto to eventually hit the bottom at around $3200 with the bear market lasting until July this year and starting a month earlier in June.

Where this is just a short term prediction, Ross admits that this Bear market could even last until 2021. When you consider how uncertain everything is in the crypto industry, this isn’t all that unlikely…

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!

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