Oct 24

How High Will Bitcoin Go?

Nothing is impossible and it looks like the sky’s the limit if predictions by analyst Ronnie Moas are correct.

Bitcoin Price to Hit $50,000 & Catch Apple’s $800 Billion Market Cap by 2022, Says Previously Accurate Analyst

Samburaj Das on 24/10/2017

An analyst who previously predicted bitcoin price to hit $5,000 this year, has gone bullish again to claim bitcoin will overtake Apple’s $800 billion market cap within five years.

Earlier in June, stock analyst and founder of Standpoint Research Ronnie Moas predicted bitcoin price to hit $5,000 within a few months at a time when the cryptocurrency was trading near $2,600. Now, the stock picker has hedged his bet on the cryptocurrency market to hit $2 trillion in the coming years that will effectively see bitcoin rise to 12x its price today above $50,000.

Appearing in a media interview with CNBC’s “Capital Connection” today, Moas put the spotlight on $200 trillion in the combined global markets of gold, stocks, bonds and cash. All of which he would be shunning, for bitcoin.

He stated:

“I’m not excited about putting my money in any four of those options right now. If 1% of that $200 trillion finds its way into cryptocurrency in the next 10 years, you will be looking at a $2 trillion valuation, 12x what it is today, and that will drive bitcoin price above $50,000.”

Read the rest of the story at Cryptocoins News

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