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Staying above $20,000: Silk Road founder suggests BTC isn’t finished yet

Staying above $20,000: Silk Road founder suggests BTC isn’t finished yet
  • The founder of the infamous Silk Road and a current inmate in prison, Ross Ulbricht recently predicted long-term bullish possibilities for bitcoin. 
  • He says that he can see the price staying well above the $20,000 mark.

The founder of the infamous Silk Road and a current inmate in a federal prison, Ross Ulbricht has recently predicted long-term bullish possibilities for cryptocurrency and specifically bitcoin. He says that he can see the price staying well above the $20,000 mark. 

Last week on the 24th of April, Ross posted it to his personal medium account from the United States penitentiary Tucson where he expanded on his comments saying he can understand bitcoin dropping in a bear great close to the $3000 mark. He said that his prediction was a likely scenario for the second wave however, he further said that he wants the community to know that is still bullish when it comes to the long-term future of cryptocurrency.

In the post, he said the following:

“If wave II takes prices down to $1,000 and wave III is as big as wave I, then wave III will drive prices to $333 million. Assuming 21 million bitcoins, that's a market cap of $7 quadrillion. That's more than ten times the current GDP of all humanity. So the point is — long term — the sky is the limit.

There are signs everywhere indicating that both short and long term bullish possibilities for cryptocurrency are going to occur. However, Ross attributes that any possible bearish behaviour between the next two weeks is nothing to worry about as they are insignificant fluctuations.

He even asserts that decades from now, a bitcoin price less than $20,000 will be seen as cheap.

For more news on this and other crypto updates, keep it with CryptoDaily!

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