Topic: [2017-12-18] Ronnie Moas: Bitcoin Will Become The World’s Most Valuable Curr (Read 137 times)

Actually it's the road to success. Just look at some of the long term Bitcoin advocates. They became even more popular since they started repeating that it will reach 10k and then 15k and each time they were right. Now the predictions are going up with the more reserved preachers saying 50k in 2018 and the more careless ones putting their manhood on the line

The only valuable contribution coming from this article is its bullish nature. Most of the long term holders have always believed to hold something with the potential to become so big, that it will start affecting the financial world. The difference is that the long term holders were always confident that it would at some point happen, where all these predictions that we read about nowadays are nothing more than an attempt to ride out this 'hype'. Everyone nowadays has an opinion on Bitcoin, and they aren't shy of sharing that opinion with the outside world, even not when it makes them look like a total clown -- ignorance is ruling the headlines nowadays.

Certainty there goes the big difference between the real physical gold and its supposed digital counterpart. With Bitcoin the supply had been fixed by Satoshi Nakamoto and there is no one who can increase it further so with the increasing demand there is no choice but for its value to rise either rapidly or gradually. However, just like many in the Bitcoin community, I believe that  Bitcoin could have been more valuable now had it not been for the scalability issues affecting the coin since I can remember. The problem is not so much on the technical side but the political dynamics among the people tasked to decide and do something about this concern. Still, by next year, it is projected that Bitcoin will continue on rising because there would be more good news in the field like opening new countries and maybe the approval finally for ETFs.

I really like reading papers that are positive on the era of cryptocurrencies. It gives me a tap on the back when all others are too skeptical about embarking on this new development. But you know, there are implications with this kind of positive write-ups on Bitcoin. One, people who have Bitcoins will be most likely holding their Bitcoins on the premise that it is definitely the future! Hence, they will bank on it 100%. Two, people who do not have Bitcoins will continue to demand for it on the premise that they will be needing them in the long run. With this, the value of Bitcoin will keep increasing. This scenario shows us that people will be greedy and they will not even think of cashing it out. There will be less Bitcoin circulation making it more pricey!

So some random guy gets a nice article on CNBC or whatever by talking huge numbers. Since everyone else here often talks huge numbers why don't we have our own glossy articles too?

I wish Ronnie Moas being right about his speculation,and maybe one day BTC will be worth 300 000$ or 400 000$,but the question is when this will happen.Will it happen in next 5,10 or maybe 50 years from now or maybe never it really depends on many factors.He is right about limited supply of BTC,there is not too much left to be mined and in next few years if this trend continues BTC value can grow to unimaginable proportions.

The big role in that will have governments and their regulations in terms of trading,taxes and general attitudes towards cryptocurrency.Also BTC scalability must be solved as soon as possible if we want BTC to be use as payment in daily life.

Ronnie Moas of Standpoint Research, who predicted the rise of Bitcoin, now says that the cryptocurrency will become the world’s most valuable currency.

For a number of years, Bitcoin quietly moved up a few notches in value, but then 2017 happened. The cryptocurrency has exploded this year, going from just around $1000 to the current value of $18,969. Few people made the Bitcoin prediction that it would rise so sharply, but Ronnie Moas of Standpoint Research did. Now he goes even farther and envisions that Bitcoin could reach as high as $400,000 and become the most valuable currency in the world.

FUTURE WORLD DOMINATION?

In an interview with CNBC, Ronnie Moas was quite bullish on the future of Bitcoin. He says that the current frenzy about the virtual currency hitting $20,000 is just the launching point for something bigger. The analyst predicts that Bitcoin will go much higher, stating:

"Bitcoin is already up 500 percent since I recommended it in the beginning of July, and I’m looking for another 500 percent move from here."

He then added:

"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."

COULD MOAS BE RIGHT?

The independent research analyst has been on target before concerning Bitcoin. When the cryptocurrency was trading for $2,600 last summer, he was the person who spoke up and said that it would reach $5,000 before the end of the year. He was right, even though he might have been surprised to see how quickly Bitcoin shot up in value over the last couple of months.

As for his Bitcoin prediction, Moas is confident that the virtual currency will become the most valuable currency in the world. The reason for this is due to supply and demand. There’s a limited supply of bitcoins, so the market will ensure that prices will go up as long as the demand is there.

In this context, Moas says:

"I don’t know how much gold there is in the ground, but I know how much bitcoin there is, and in two years there will be 300 million people in the world trying to get their hands on a few million bitcoin. This mind-boggling supply and demand imbalance is what is going to drive the price higher."

Of course, not everyone agrees with this assessment. Vasu Menon of Singapore-based bank OCBC says that it’s a risky move to believe that Bitcoin will reach $400,000 as he does not see any fundamental drivers for such a rally.

However, Ronnie Moas is unperturbed and is doubling down. He says:

"I look at bitcoin the same way I look at Amazon .The way to play Amazon for the last 15 years was to buy it, hold it, and add on the dips. That’s exactly the way I think people should be playing bitcoin."

Do you agree with Moas that Bitcoin will reach $400,000? Will it become the world’s most valuable currency? Let us know your thoughts in the comments below.

http://bitcoinist.com/analyst-makes-bitcoin-prediction-that-it-will-become-the-most-valuable-currency-in-the-world/