Ross Ulbricht predicts short-term bearish price forecast for Bitcoin

Although the Bitcoin community is of the opinion that the cryptocurrency, due to its decentralized nature, does not need a specific person to be successful, the American programmer Ross Ulbricht is considered one of the integral members of the industry.Ulbricht, who was also known by his online name “Dread Pirate Roberts” when he ran the infamous Darknet platform, Silk Road, is known to have catalyzed much of the early adaption of Bitcoin when BTC was still well below Traded $ 1,000. After running the website for a few months, the programmer was arrested and sentenced to prison. However, that did not stop him from occasionally communicating with the outside world through messages and thoughts shared by friends and loved ones through his social media accounts. On April 11, he shared his latest thought: a pessimistic bitcoin analysis.

 

Ulbricht does not yet forecast the bear market

Since March 12, Bitcoin has made an objectively impressive comeback, rising 100 percent from its low of 3,700 to 7,470 in one month. However, Ulbricht is not convinced. In a medium article titled “Bitcoin by Ross # 9: A Strong Signal for Lower Prices”, he explained that BTC, in his view on the long-term chart, is currently entering the second phase of the bear market.