Ross Ulbricht: Bitcoin May Surge 1,300% by End of 2020

Ross Ulbricht, the founder of the now defunct Silk Road marketplace and a Bitcoin advocate, explained in a recent blog post that he believes there is a strong chance that BTC could end 2020 at $100,000. Silk Road Founder Claims Bitcoin Could Soon Target $100k At the time of writing, Bitcoin is trading down marginally at its current price of $7,130, which marks a notable decline from its one-month highs of nearly $9,000 that were set in early-November.

In spite of this, Ross Ulbricht, the founder of the now defunct dark web Silk Road marketplace, noted in a recent blog post that he believes the cryptocurrency’s Elliot Wave formation may point to the possibility that it will see significantly further gains throughout 2020. Although this bullish possibility does loom on the horizon, it does appear to be a strong possibility that Bitcoin will see further near-term downside as analysts look towards a break below its near-term support at $7,000.

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