We personally take price predictions from these so called ‘analysts’ with a pinch of salt, at what point these guys and gals became experts in the Cryptocurrency markets is unknown to us, however it’s always fun to report the latest price predictions nevertheless.
This time it’s another speculative prediction from Ronnie Moas from Standpoint Research, Moas predicted back in July that Bitcoin would surge pass $5k, not exactly a good reason to take his further predictions seriously, but there we go – apparently because Moas was correct on this he is now a Bitcoin guru. Anyway Ronnie Moas has, in an interview with CNBC talked about how he believes from here we should expect to see another 500% increase which would leave Bitcoin at a value of a round $400,000.
“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’s predictions are not outlandish in anyway, we happen to agree with him, but it’s just highly entertaining to watch the mainstream media wet their pants over these certified experts in the field of finance making such predictions for the currency they’ve been so long trying to deny. The reality is though it doesn’t matter how much expertise you have had in the field of finance in the pre-crypto era, this is an entirely different ball-game. Cryptocurrency has an entirely different set of rules and variables to consider and due to it’s lack of support from the criminal Governments around the World it’s value can be unpredictable.
Moas compares Bitcoin to Gold, a common comparison and as Moas points out, Bitcoin is more scarce than Gold:
“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.”
Bitcoin at $400k, well it would be nice and it’s entirely possible, however, you may want to take some profits a little before that…….