He is serving a life sentence for being the creator of the notorious Silk Road Market but Ross Ulbricht, the key figure who operated the dark web marketplace has made a bold prediction to where he thinks bitcoins price will be over the next year.
Writing from prison, Ulbricht’s latest letter predicts that bitcoin is set to reach $100,000 in the year 2020.
How so? Well, the Silkroad founder is a keen technical analyst and his favourite charting pattern is the Ellie Elliott wave theory.
He believes that the fifth wave is about to hit and that it will take the currency up to the 100,000 level.
“If the $20,000 peak is the end of wave three than the correction pattern that we are in for is wave four and we can expect wave five to take us to all two new all-time highs.”Ross Ulbricht
Ross William Albrecht, born on March 27, 984, was convicted for creating and operating the darknet market website the silk Road from 2011 until his arrest in 2013.
The website was designed to use Tor for anonymity and bitcoin as a currency.
Ulbricht’s online pseudonym was “Dread Pirate Roberts” after the fictional character in the novel the Princess Bride and its film adaptation.
In February 2015 he was convicted of money laundering, conspiracy to traffic fraudulent identity documents, and conspiracy to traffic narcotics by means of the Internet.
In May 2015 he was sentenced to a double life sentence for 40 years without the possibility of parole.
Both of all his appeals to the US Court of Appeal and the US Supreme Court were unsuccessful and he is currently incarcerated at the United States penitentiary in Tuscan.
A clemency petition to President Donald Trump has reached 253,518 signatures at the time of writing.