The well-known analyst has estimated that the virtual coins will reach the price of $ 400 000. Of course, we are not talking about any virtual coin. Bitcoin is the one that will reach this fabulous price. Invited on Halftime Report, on CNBC, he spoke his thoughts about the future of the coin.
After his prediction from July regarding the Bitcoin price escalation, and its rise to $ 5 000, Moas thinks that the currency will be acquainted with a 500 % value growth.
He is claiming that Bitcoin will surpass the $20 000 level and reach a seven digit number. In the middle of the summer, he also announced that Bitcoin will reach $5,000 before the beginning of 2018.
In his opinion, the most popular cryptocurrency will cost up to $ 300 000 or $ 400 000 and will be the currency with the highest value in the world.
He also stated that the unballance between the requirement and offer will help the rise of Bitcoin’s price. In two years, there will be 300 millions people trying to divide the Bitcoin quantity. He added that he has so much trust in his theory because there is a limited amount of Bitcoins, 21 millions of units. The demand being bigger and bigger, will be the thing that will push the price of it higher.
The analyst considered the CME Group futures market and the introduction of cryptocurencies inside Square platform. He said that these details played an important role in his predictions
Some people don’t share his opinion, even if he says that the price estimated by him is a realistic one. The co-president of OCBC from Singapore stated that he doesn’t see any fundamental reason for this ‘race’ of Bitcoin. He also thinks that the asset is very risky because of the volatility presented lately.
Ronnie Moas said that what is happening now with Bitcoin, is just the ‘beginning of the party’. The coin has shown a lot of potential lately in spite its volatility, reaching $ 13 000 from $ 20 000. Financial analysts and speculators claim that Bitcoin will reach again even bigger values, and that this is just a break the coin is having. Last week, the coin quotation has dropped significantly showing a fall of 30%, comparing it to its last quotation. It is not the first time the virtual coin has recorded that big of a change. Last year, it dropped 40%, reaching to $3 000 from % 5 000.