Hey ninjas, how’s the trading going? On the day, the cryptocurrency market is trading sideways as Bitcoin fails to break $8k. At press time the largest cryptocurrency is trading at $7,265 and is reporting 0.40% daily gains.
The founder of the infamous darknet market place Silk Road has predicted that the price of Bitcoin will skyrocket up to $100,000 in 2020. Ross Ulbricht formerly operated the now-defunct market place Silk Road using the alias ‘‘Dread Pirate Roberts,” the darknet site allowed its users to buy and sell anything regardless of its legal status.
The site made use of Bitcoin escrow to hide the identities of the seller and buyer, in 2015 Ross Ulbricht was arrested and sentenced to life in prison after he was found guilty of computer hacking, distribution of drugs, money laundering and other charges.
According to a series of blog posts on the 10th of December, Ross Ulbricht predicted that Bitcoin will trade as high as $100,000 in 2020, the blog posts are based on letters he wrote in prison, he reportedly made use of a type of market analysis known as Elliott Wave Theory.