Bitcoin’s amazing rally in 2017 has clearly excited Bitcoin’s supporters. Ronnie Moas of Standpoint Research, one of Bitcoin’s busiest analysts, has revised its forecast upward.
$ 7,500 at the end of the year? Ups, we’re almost there!
Ronnie Moas surprised observers with his brave July 2007 prediction that Bitcoin could reach $ 5,000 within months.
The price was less than $ 3,000 when he made the prediction, but it ran to over $ 5,000 in September 2017 before falling short.
In August 2017, the rapid rise in the Bitcoin Prize led to Ronnie Moas to revise its forecast at $ 7,500 by the end of 2017. Bitcoin’s rapid price hike has also overshadowed this forecast as the Bitcoin award exceeds $ 7,400 today. Ronnie Moas has now revised its forecast and raised $ 11,000 in 2018.
In an email to his customers, Ronnie wrote:
Every day several headlines on krypto hit the news agencies. Several countries embrace it and the few obstacles that stand in the way of falling like dominos.
Long term: digital gold
Ronnie Moas is extremely optimistic about Bitcoin’s long-term potential and believes that one day it will compete with gold. He predicted that his price would exceed $ 20,000 in three years and $ 50,000 in 10 years.
With Bitcoin’s latest bullish round, he could even shorten Bitcoin’s projected timeframe to reach these levels.
While Apple may be the highest capitalized company and its value reaches record levels every day, Ronnie believes that Bitcoin will take over Apple in just five years.
More awareness and investment will speed up the price increase
Ronnie believes that the rise in prices is driven by a greater awareness of Bitcoin and a larger proportion of the world’s population investing in it.
It is estimated that less than 0.5 percent of the people currently investing in Bitcoin, and Ronnie believes that it may rise to five percent.
As the supply of Bitcoins is fixed, price-performance imbalances will increase the price. The current rally of Bitcoin has clearly divided people into two opposite camps, with the bulls getting bullish and the bear regret bubbles.