Bitcoin to surge nearly 80% to $5,000, Standpoint’s Moas predicts
After testing out digital currencies earlier this month, independent stock research analyst Ronnie Moas on Sunday published the first two parts of his 122-page report on bitcoin and other digital currencies.
«In my view, the genie is out of the bottle, and cryptocurrencies will continue to rise and take market share away from stocks, other precious metals, bonds and currencies,» Moas, founder of Standpoint Research, said in the report.
«I think investors should take a shot on this and hold for a few years. If you lose a few bucks, at least you took a shot,» he said. «In life, you miss every shot that you do not take. It will probably be more upsetting to watch it (from the sidelines) go up another 1,000%.»
Moas gave bitcoin a $5,000 price target for 2018, reflecting nearly 80 percent upside from Monday’s price of about $2,800. He also expects rival digital currency ethereum to more than double in value from just under $200 to reach $400 in the next year, and another digital currency, litecoin, to double from about $40 to $80.