[2017-12-20] Bitcoin Price Has a $400,000 ‘End-game’: Research Analyst Ronnie Mo

[WatchMaker]

Bitcoin Price Has a $400,000 ‘End-game’: Research Analyst Ronnie Moas



Independent market research analyst Ronnie Moas said that he believes the bitcoin price has the potential to reach a long-term target of $400,000.

Bitcoin Price Has Six-Figure Potential

Moas, the founder of Standpoint Research, has been recommending bitcoin since July when it was trading at $2,600. At that time, Moas set his 2018 bitcoin price target at $5,000. That may have seemed like a bullish target at the time, but bitcoin has exceeded it — several times over — causing Moas to revise his forecast upwards multiple times.


Source: CoinMarketCap

Over the weekend, the bitcoin price briefly touched a global average of $20,000 — a mark Moas had originally believed the flagship cryptocurrency would not reach until 2020. At the time of writing, the bitcoin price was trading at $18,612, according to the CCN price index.

However, despite its breakneck pace in 2017, Moas believes the bitcoin bull market has the legs to continue into the six-figure range, even if it does encounter temporary dips along the way.

“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’s “The Rundown.

“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,” Moas added, explaining the justification for this optimistic outlook.

Bitcoin Futures a ‘Celebrity Endorsement’

As CCN has reported, much of the recent rally can be attributed to the introduction of bitcoin futures on U.S. exchanges CBOE and CME, which should help cryptocurrency shed its taboo status among Wall Street investors. Some analysts, though, predicted that institutional investors could trigger a bitcoin price crash by shorting the futures. Nevertheless, that has not happened — at least during the futures contracts’ debut phase.

In any case, however, Moas said that he was “really not too concerned” about the nascent bitcoin futures markets, arguing that they serve as a “celebrity endorsement” of bitcoin but will not have a significant impact on the asset’s price over the long-term.

URL: https://www.ccn.com/bitcoin-price-400000-end-game-research-analyst-ronnie-moas/

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[CyberKuro]

The research analyst is better than some people claim as crypto experts.
$300K-$400K as the end of the rally of bitcoin isn't so bad in my opinion, and it's not impossible as well due to the demand of cryptocurrency which constantly increases over time. But, bitcoin price is unpredictable in the future obviously, we can say bitcoin will reach "certain" price in 2020, but only time will reveal the truth. It has been proven in this year, most people do not believe bitcoin can reach $20000, but it did.

[uslfd]

I'm interested in why he thinks the end game is $400K but not $1M or $100K?

[1Referee]

I'm interested in why he thinks the end game is $400K but not $1M or $100K?

I guess he's just referring to the fact that there is much more room for growth, which I definitely agree with. Once we have reached such levels, it will become difficult to strive for further growth, taking into consideration that we can't always keep relying on Bitcoin's speculative nature. At some point it have to settle in a way that it more or less mimics Gold's market behavior in terms of stability. Bitcoin's market will at some point become heavily regulated and lose its free market nature that we currently enjoy. Exchanges will look like stock markets with all their rules and limitations. Just look at how many times the future markets have already been paused for a few minutes. In the long run it's a good thing, especially when it comes to how Bitcoin will more than ever be the currency people expect it to be.

[cr1776]

...
As CCN has reported, much of the recent rally can be attributed to the introduction of bitcoin futures on U.S. exchanges CBOE and CME, which should help cryptocurrency shed its taboo status among Wall Street investors. Some analysts, though, predicted that institutional investors could trigger a bitcoin price crash by shorting the futures. Nevertheless, that has not happened — at least during the futures contracts’ debut phase.
...

And presumably with CBOE and CME futures markets this will address the concerns of the SEC about the ETFs so they will be approved.  When that happens, the projections mentioned in this article will be much more likely to occur.

[richardsNY]

I am confident that the market at some point will break the $100k level with how things are progressing. If we have more Bitcoin tied financial instruments that will allow institutions to enter this market, and finally lightning network, there is literally nothing that can stop Bitcoin from growing further. On top of that, we also have the block halving coming closer, which is a major bullish indicator for me. If I really have to choose one of the aforementioned events, then by far my interest goes out to the activation of lightning network. It will give people more reason to adopt Bitcoin, and for once to actually use it to conduct small payments.

[Karakyli]

Bitkoyn approached the $ 20,000 rate even though many bitcoins have recently expressed dissatisfaction with him due to his slow transactions and large commissions in carrying them out.
     If next month, as planned, the "lightning" project will be implemented, which should eliminate the existing shortcomings of bitcoins, then its value can again increase very rapidly and indeed, soon we can see bitcoin within 40 0.0 - 50 000 dollars.
   Will it ever costkoyn cost about 400 000 dollars, now it is too early to predict. Everything can happen for the better, and for the worse.

[Guardian.P]

What kind of children's predictions. People, 400k? Please tell me why, Than bitcoin became better, that its price was 400k. Can you imagine what the transaction price and its speed will be?

[MoneyMotivatesMe]

That is a very good end game indeed. Maybe it'll happen 2-3 years from now. 6 figures is really my final target.

[croptodic]

I expect $400,000 within year