By
Temitope Olatunji
April 24th, 2024
Ronnie Moas says that digital currencies and bitcoin in particular will keep on growing and exceed the value of stocks, other precious metals, bonds and currencies.
Ronnie Moas, a stock research analyst and founder of Standpoint Research, has come up with an independent opinion concerning the future of cryptocurrencies. He predicts that digital currencies and bitcoin in particular will keep on growing and exceed the value of stocks, other precious metals, bonds and currencies.
A 122-page report on cryptocurrencies became the result of Moas’s studies and testing out the subject earlier this month.
“I think investors should take a shot on this and hold for a few years. If you lose a few bucks, at least you took a shot,” he said in the report. “In life, you miss every shot that you do not take. It will probably be more upsetting to watch it (from the sidelines) go up another 1,000%.”
At the beginning of the month, Moas already shared his thoughts that bitcoin can reach $5,000 within this year. As if to confirm his belief, Moas has invested a few hundred U.S. dollars each in 10 of the top 20 digital currencies by market capitalization marking the first time in 20 years he’s put money into his own recommendations. He also plans to invest even more.
As for other digital currencies, Moas says that Ethereum will double in value from current $217 to $400 next year, and litecoin will double from about $42 to $80.
Moas mentions that full-fledged customer support is what digital currencies need to earn public trust and go mainstream.
“There is no telephone support,” he said. “You must go to the FAQs section and spend a long time looking for the answer to whatever question you may have — and then you may not be happy with the answer. Your only other option is to send an email to customer support which could take anywhere from one-to-seven days to get a reply.”
“I watched from the sidelines for a few years and it felt recently as if the train is leaving the station,” Moas said. “I think we are still in the first quarter of a four quarter game and that even though I missed out on significant gains (2014 – 2016), it is not too late to get in.”
Sheba Jafari has also recently made a forecast, maybe not as optimistic as Moas’s one but still. The head of technical strategy at Goldman Sachs thinks that bitcoin will soon increase above $3,600.
It is interesting that Jafari’s previous predictions turned out to be quite accurate. Earlier, she forecasted that the bitcoin price would not drop below $1,857. The digital currency then actually plunged to around $1,852.
John McAfee, a cybersecurity and software pioneer and a founder of McAfee Associates, claims that bitcoin has all chances to reach $500,000 in the next three years.
Here is a formula for predicting prices of all digital assets; coins, tokens, sidechains and whatever else for those who don’t believe in predictions of others and want to look into the topic.