Ross Ulbricht predicts a rise in the price of bitcoin to $ 333 million for 1 BTC

The founder of the largest darknet site Silk Road, Ross Ulbricht, published a long-term analysis on MediumBitcoin prices (BTC), in which he claims that the main cryptocurrency could potentially rise to the price of $ 333 million.

Ulbricht uses wave analysis in his analysis, and advises his readers to study this method from the books The Principle of Elliott Waves and Socionomic Theory of Finance by Robert Prekter.

Bitcoin's goal is heaven

In a message from a prison cell in ArizonaUlbricht claims to have devoted many years to forecasting the price of bitcoin based on the Elliott Wave Principle. Until recently, he did not disclose the results of this analysis. However, now, according to the organizer of Silk Road, he is sending letters from the prison cell to help other people “navigate” the market.

The first predictive messages from UlbrichtBitcoin prices of $ 100 thousand were published in early December 2019. However, after the shocking events on the market that took place on March 12-13, he revised the short-term analysis and stated that it was very likely that the price would drop to $ 1200. At the same time, the bear market (the second Elliott wave) may drag on until 2021, which eliminates all bullish forecasts.

Here are my latest #BitcoinByRoss posts:
Some Clarification and Long-Term Perspective

For those of you upset by my short-term bearish forecast, I want to reiterate I am still bullish long-term.https: //t.co/HxFVtQHSsu

- Ross Ulbricht (@RealRossU) April 23, 2020

However, the long term, according toUlbricht's forecast remains bullish. The next bull cycle or third Elliott wave, according to the theory, will be greater than the first, which raised the price of Bitcoin from $0.06 to December 2017 highs of almost $20 thousand. Consequently, the first wave raised the price by 333,333 times.

According to Ulbricht’s figurative statement - “heaven is the limit” for the price of bitcoin. At the same time, he refers to calculations according to the Elliott theory:

"If wave II reduces the price to $ 1,000, andwave III will be as big as wave I, then wave III will raise prices to $ 333 million. If we accept [the total number of tokens] 21 million bitcoins, then the market capitalization will be almost 7 quadrillion dollars. ”

Recall that the approach of bitcoin halving allows analysts to assume that growth to $ 20 thousand can occur dramatically in one week.

</p>

5
/
5
(
1

voice
)