Ronnie Moas, a financial analyst at Standpoint Research, is extremely optimistic on Bitcoin price, predicting that it will reach $11,000 next year and $20,000 in the next three years.
Moas is not new in bullish predictions. In fact, he is one of the most optimist analysts on Bitcoin. In July 2017, he made it to the news by boldly predicting that Bitcoin would reach $5,000 within the next months. Bitcoin reached even higher.
Bitcoin's price was no more than $3,000 in July, but the August rapid price increase forced Moas to revise his prediction raising it to 7,500 dollars by the 2017-end.
In September, Bitcoin reached $5,000, and then it retraced briefly.
Now, only three months later after his prediction, Moas saw the cryptocurrency reach 7,000 and be just a breath away from the $7,500 mark.
For sure, Moas has a new ultra-bullish prediction. He raises Bitcoin price to $11,000 in 2018. And in three years, he continues, Bitcoin will hit $20,000 - and $50,000 in the next ten years.
Moas wrote to his clients:
Every day more headlines are hitting the newswires on crypto. More countries are embracing it, and the few obstacles that were standing in the way are falling like dominoes.
He is so certain that Bitcoin will rise to new heights, he advises people to buy bitcoin and just hold them.
Is Bitcoin the digital gold? Will Bitcoin Be Larger Than Apple?
Apparently, Ronnie Moas bullish predictions mean he shares crypto fans' belief that Bitcoin has the potential to rival gold. He even thinks that Bitcoin will overtake Apple in just five years.
That will be an astonishing development since Apple is the tech company with the highest market capitalization, as it sells iPhones by the millions
Moas justifies his more-than-bold claim on Bitcoin price arguing about the "increased awareness" of the cryptocurrency. He believes that increased awareness of Bitcoin will drive the price higher every day as a larger proportion of the world's population will invest in it. At the moment, he says, less than 0.5% of people have invested in Bitcoin but the bold analyst Ronnie Moas believes that this could increase up to 5%.
We don't know whether Moas is right or Bitcoin will proove to be the very definition of a bubble, but we do see the cryptocurrencies market cap rising rapidly in the last couple of months - it reached 200 billion on November 3, 2017.
What do you think? Do you agree with Ronny Moas? Or you think Bitcoin is a bubble?