Zengo CEO Light-Heartedly Forecasts Bitcoin to Plunge Below $1000

In a prediction not to be taken seriously, the CEO of ZenGo wallet Ouriel Ohayon gave his forecast about Bitcoin (BTC) and other altcoins. However, it is not encouraging to crypto enthusiasts. As per the tweet made by Ohayon, Bitcoin will plunge below $1,000.

In his tweet, Ohayon said “Bitcoin will crash to sub-1000 USD.”

In addition to Bitcoin price prediction, Ohayon also forecast about Tron, XRP:

“All hardware wallets will be hacked; Tron/XRP will become the most important cryptocurrency; Satoshi identity will be revealed and will be disappointing; Trump will stack sats on twitter; Lightning will have glorious adoption.”

Even though the tweet sounds sarcastic, Ohayon explained further by tweeting “joke mode off.”

To a query asking him whether he backs his forecast would turn real in 2020, Ohayon tweeted “I am a disaster at making predictions. Did you notice the thread?”

After few minutes, Ohayon clarified that his forecasts should not be taken serious, but he was thrilled to disclose his prediction. While Ohayon’s forecasts should be taken as a joke, they could not be brushed away totally.

For example, Australian businessman Craig Wright asserted last year that he is Satoshi Nakomoto, triggering hot discussions in the crypto domain.

Oddly enough, Wright also notified court executives that he could not fund a 500,000 BTC settlement in the litigation against Kleiman estate, filed in November.

Cyber-security specialist Kleiman is perceived ase one of the initial developers of Bitcoin and blockchain technology.

Even though it is hard to believe that all hardware wallet will become susceptible to attacks, several vulnerabilities have hogged the limelight so far.

On December 10, a blog post by Kraken Security Labs revealed a “voltage glitching” onslaught that draws the encrypted seed utilized to gain control over the cryptocurrency held on a KeepKey hardware wallet.

A hacker can later on initiate a brute force attack on the encrypted seed as it is only safeguarded by a 1-9 digit PIN, which Kraken elaborated as “trivial.”

It should be however agreed that the New Year could see more Satoshi Nakomoto identity claims.

Crypto community considers the US President Trump’s tweet as a major sign of crypto popularity. However, the crypto community differs from the view that Bitcoin and other altcoins will encourage drug trade and other illegal activities.