Bitcoin to surge nearly 80% to $5,000, ethereum to double, Standpoint's Moas predicts
From CNBC
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.Read more here: https://www.cnbc.com/2017/07/31/bitcoin-to-surge-nearly-80-percent-to-5000-standpoints-moas-predicts.html"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.
In the next week or two, Moas said he plans to issue the third part of the 122-page report about how a fourth and much smaller digital currency could rise a few hundred percent in the near future.
The stock analyst said he's bought 10 of the top 20 digital currencies by market capitalization in order to be diversified, marking the first time in 20 years he's put money into his own recommendations.
"In my view, 10-15 years from now, the charts on a few of the top 20 names will look like the Amazon, Apple, Tesla, Facebook, Netflix and Google charts look today," Moas said in the report.
Follow @contentjunkie to stay up to date on more great posts like this one.
I can do double ETH! I actually a few days ago after some searching, I decided to pour about 30% of my ETH holdings into EOS, bright future for everything in my opinion. Buy now, its all going up up up!
ETH's reputation took a hit with the last hack though. I'm not sure ETH has the same allure now. I'm wondering if we have to witness yet another incident a few months from now.
It'd be great to see someone take all the predictions like this on Steemit and actually see if they came true.
Otherwise, it just feels like optimistic noise.
Well let's hope it's true, this predicting prices is nearly always way off.
This post has received a 3.85 % upvote from @booster thanks to: @contentjunkie, @banjo.
This post has been ranked within the top 80 most undervalued posts in the first half of Aug 01. We estimate that this post is undervalued by $10.18 as compared to a scenario in which every voter had an equal say.
See the full rankings and details in The Daily Tribune: Aug 01 - Part I. You can also read about some of our methodology, data analysis and technical details in our initial post.
If you are the author and would prefer not to receive these comments, simply reply "Stop" to this comment.