According to Ross Ulbricht, best-known for creating & operating the darknet market website Silk Road, Bitcoin’s price is headed downward. Using the Elliot Wave Theory for his analysis, Ulbricht believes that there might be more loss ahead, taking the price significantly lower.

Ross Ulbricht, the founder of the infamous Silk Road dark market, pointed out that Bitcoin’s price may be headed lower.

According to the popular Elliot Wave Theory, the price for the primary cryptocurrency could decrease to as low as $1,200. However, it’s worth pointing out that this is the bottom range of his...