Ethereum Price Set to Double Now, Says Analyst Who Forecasted $5,000 Bitcoin by 2018
Analyst who predicted Bitcoin to reach $5,000 comes back and forecasts Ethereum set to increase by 100%.
Standpoint Research founder and analyst Ronnie Moas has previously projected that the digital currency Bitcoin will reach a price of $5,000 per token in 2018 and $50,000 in 10 years.
In his report published in late July 2017, Moas claimed that the cryptocurrencies will sustain their solid performance and steal some shares of other assets like stocks, bonds, fiat currencies and other precious metals in the market.
"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 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 percent."
Aside from the two leading virtual currencies, Moas also forecast that the price of the digital currency Litecoin will increase by twofold to $80 per coin.
Leading cryptocurrencies in terms of market capitalization
In his report, Moas issued a list of the digital currencies and their market caps. Based on the list, the top 20 currencies include Bitcoin, Ethereum, Ripple, Litecoin and NEM.
"In my view, 10-15 years from now, the charts on a few of the top 20 names will look like the Amazon, Apple, Tesla, Netflix, Google and Facebook charts look today.”
Other cryptocurrency market developments
Meanwhile, the possible split of Bitcoin could be realized in early August 2017 if some developers will advance their proposed upgrade called Bitcoin Cash. Based on market trading in late July, the Bitcoin price stands almost at the $2,800-level and is likely to surpass $3,000.
The US Securities and Exchange Commission (SEC) has also released its report and investor bulletin regarding the so-called initial coin offerings (ICO) or the sales of new virtual coins.