Home » Silk Road Founder: BTC Will Skyrocket to $100,000 in Coming Year

Silk Road Founder: BTC Will Skyrocket to $100,000 in Coming Year

Bitcoin price will jump up to $100,000 in 2020, according to Ross Ulbricht, the founder of darknet marketplace Silk Road.
news - Silk Road Founder: BTC Will Skyrocket to $100,000 in Coming Year

Bitcoin price will jump up to $100,000 in 2020, according to Ross Ulbricht, the founder of darknet marketplace Silk Road.

Ulbricht posted the prediction based on Elliott Wave Theory in a series of blog posts on Dec. 10. 

news - Silk Road Founder: BTC Will Skyrocket to $100,000 in Coming Year

To forecast the highs and lows in financial market cycles, Ulbricht identified extremes in investor psychology. In terms of Bitcoin, investors’ emotions purportedly play a more significant role as opposed to traditional markets.

According to Andy Cheung, head of operations at cryptocurrency exchange OKEx, Bitcoin price would exceed $14,000 in 2020. 

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Ross Ulbricht was arrested in 2015 on charges of money laundering, conspiracy, drug and hacking-related charges. He was sentenced to double life sentences without parole, plus another 40 years. His family opened a Twitter account for him in June, and they’ve been posting his tweets ever since.

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