After predicting a possible Bitcoin toll drop to the $iii,000s, Silk Route founder and federal inmate Ross Ulbricht sees long-term bullish possibilities for the cryptocurrency price staying well in a higher place $20,000.

Posting to his personal Medium business relationship on April 24 from the U.s. Penitentiary Tucson, Ulbricht expanded upon his comments earlier this month in which he saw a Bitcoin (BTC) bear run to $3,200 as a singled-out possibility. While admitting his prediction was a likely scenario for the 2nd wave, the Silk Route founder wants the crypto customs to know he is "still bullish long-term."

Source: Medium

"If wave 2 takes prices down to $i,000 and wave III is every bit big equally wave I, and then wave Iii will drive prices to $333 million. Assuming 21 million bitcoins, that'southward a market cap of $seven quadrillion. That'due south more ten times the current GDP of all humanity. So the signal is — long term — the heaven is the limit."

Seeing both short-term and long-term bullish possibilities for the cryptocurrency, Ulbricht attributes whatsoever possible bearish beliefs between the next 2 waves equally nada more than "insignificant fluctuations". Co-ordinate to Ulbricht: "Decades from now, [a BTC toll] beneath $20,000 will seem cheap."

While admitting his access to information is limited from prison house, Ulbricht still provides analyses on the Bitcoin market on his Medium web log. He is currently serving two life sentences without the possibility of parole later being found guilty of coin laundering, computer hacking, and conspiracy to traffic narcotics in connectedness with the darknet marketplace website Silk Road.