“Bitcoin Will Hit $300,000 To $400,000” — According To Analyst Who Predicted Its Recent Rise

Towards the end of July, independent stock research analyst Ronnie Moas published his report on cryptocurrencies and predicted its rise to $5,000 by the end of 2017. Since then, he has revised his predictions and stated new numbers, i.e., $11,000 and $14,000.

In the latest development, for 2018, he has given a new target of $20,000. That’s not all. “The end-game on bitcoin is that it will hit $300,000 to $400,000 in my opinion, and it will be the most valuable currency in the world,” Moas told CNBC.

Also Read: North Korea Hackers Trying To ‘Steal Bitcoins’ From Workers Of Crypto Companies

But, what’s the basis of this prediction? Moas states that there could be only 21 million bitcoin in the world, so a rising demand will push its price forward. As more and more people would try to get their hands on this digital currency, the demand-supply imbalance would cause more rise. He predicts that in 2 years about 300 million people will buy bitcoins.

Bitcoin is often compared to gold, but we don’t know how much gold is below the ground. This makes Bitcoin much more valuable, according to Moas.

Moas has further compared Bitcoin to Amazon stocks that people bought 15 years ago and held them. “That’s exactly the way I think people should be playing bitcoin,” Moas added.

As per the current data, Bitcoin is trading at $19,066 on Coinmarketcap. What are your predictions on the current bullish rise of Bitcoin and other cryptocurrencies?

Also Read: Here’s How $30 Billion In Bitcoins Got Lost Forever