The founding Silk Road founders are looking at a possible long-term increase in Bitcoin with a market capable of $ 7 quadrillion by 2020.
Silk Road founder and Ross Ulbricht saw the potential rise in cryptocurrency prices over $ 20,000 according to their prediction.
His opinion about second wave?
Ulbricht on his comment previously said he saw Bitcoin bears (BTC) rise to $ 3,200 as a possible alternative. While acknowledging his predictions for the second wave he wants the crypto community to know that he is “long-term.”
“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.”
Observing on the possible short and long term in cryptocurrency, Ulbricht attributed the possibility of downward behavior between the next two waves as plainly “insignificant fluctuations.” According to Ulbricht: “Decades from now, [BTC prices] below $ 20,000 will look cheap.”
Despite acknowledging his access to prison information, Ulbricht still provides analysis on the Bitcoin market on his Medium blog. He was arrested for money laundering, computer hacking, and conspiracy to trade narcotics in connection with the black market website.
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