An experienced financial analyst and founder of the investment firm Standpoint Research Ronnie Moas said that the price of bitcoin would double in the next year, and in the next ten years it could reach levels of $ 25,000 - $ 50,000.
This is written by CryptoCoinsNews
Over the past 13 years, Ronnie Moas has made more than 900 different recommendations for stock market participants, and now, after he, by his own admission, denied bitcoin for a long time, decided to plunge into the world of crypto-currency. The company began this experiment with the purchase of a "small amount" of bitcoin, Litcoin and Ethereum on Coinbase.
At the same time, Moas believes that the credibility of other types of investments will decrease, while more people will join the ecosystem of crypto-currencies.
- "There are only 21 million bitcoins in circulation, and the world will fight for these coins against the background of a decline in confidence in traditional currencies and other investments. I have almost no doubt that 1% of all money in the form of cash, bonds, shares and gold will eventually flow into the crypto currency, "
Moas said in an interview with Bloomberg.
Recognizing the possibility of a "bubble" in the short term, Moas, nevertheless, predicts a significant increase in the price of bitcoin over the next ten years. Such a conclusion he bases on the fact that in the majority of crypto-currencies are still underestimated. According to the analyst, the situation will begin to change when investors pay more attention to them.
So, he draws attention to the fact that today the market capitalization of bitcoin is only about 1% of the analogous indicator of gold, and 0.1% - from the capitalization of the stock market and cash. According to Moas, since many investors have gold in their portfolios and see how it negatively affects their earnings, there is every chance that they will eventually turn to crypto-currencies.
Moreover, Moas believes that the securities market has risen to its highest point, and therefore, when the bullish trend is completed, investors should be prepared for inevitable losses.
According to the analyst, if the crypto-currencies take away 1% - 1.5% of the share market, a situation in which an investment of $ 100,000 can turn into $ 1 million is quite possible.
- "It is likely to hurt to observe this from the outside," he concluded.
Ronnie Moas, however, notes that while it is only at the very beginning of his research on crypto-currencies and promises that in August he will publish a more detailed 40-page report.