Ronnie Moas Raises Bitcoin Target Again: $20,000 By Start Of 2018

Ronnie Moas, quite happily, keeps changing his mind on where Bitcoin will be in the new year.

November has been a busy week for famed stock picker Ronnie Moas who, on Nov. 4, predicted that by the beginning of 2018 Bitcoin would hit $11,000. That was recently blown out the water, but before the target was hit, he adjusted to $14,000.

Now, Bitcoin is on its way to smashing that new target causing Moas to readjust for the third time in a month as the digital currency revels in a new era of adoption and acceptance.

Moas looks at Bitcoin as a whole, incorporating all the chain splits in his split-adjusted price is and considering the price of the forked Bitcoin chains alongside the original was $12,740 when Moas made his new prediction, $14,000 looked undervalued again.

$20,000 is a month away

Moas now puts the line in the sand at $20,000 for the split-adjusted price when the new year hits. Looking at how things have gone so far for Moas, a month is a long time, and perhaps $20,000 will be broken before that time.

Many pickers, investors and money movers have thrown their hats into the ring trying to hit the sweet spot of this volatile asset when it comes to prediction.

Tom Lee, rather conservatively, set a Bitcoin growth of 40 percent to happen by the middle of 2018. His prediction put him at $11,500. That prediction was made a week ago, and in that time Bitcoin topped at around $11,300.

Max Keiser has a much more bullish view, but over a longer time frame as the host of Russia Today’s Keiser Report believes that $100,000 Bitcoin is an eventuality.

Why split-adjusted?

Moas, as one of the most well-regarded stock pickers, is clearly in the Bitcoin game for its investment potential rather than the technology side which has seen different factions at war with each other. Some people are vehemently Bitcoin Cash supporters, and others true fans of the original chain.

Moas, however, with his investor’s hat on, sees that by buying Bitcoin he not only received free Bitcoin Cash, but also free Bitcoin Gold, and thus counts them together in his portfolio, urging others to d the same as a diversification strategy.

Bitcoin Diamond and the real gold

“I am raising my 2018 fork- and split-adjusted price target on Bitcoin from $14,000 to $20,000,” Moas explained. “The current price is $10,720 and the split-adjusted price is now $12,740 when factoring in Bitcoin Cash, Bitcoin Gold and Bitcoin Diamond.”

Bitcoin Diamond is another fork of the Bitcoin chain that went largely unnoticed. Its aim is to switch from proof-of-work to proof-of-stake after mining is completed – after just 10,000 blocks.

“Bitcoin is now up split-adjusted by 394 percent since my July 3 recommendation,” Moas went on. “There is no way to justify Gold $7 tln at 40X Bitcoin ($180 bln). An argument can be made that Bitcoin will be equal to Gold within 10-15 years. I do not know how much Gold there is in the ground … I do not know how much Bitcoin there is.”

Source: Coin Telegraph




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$11,000 ‘Cripple Coin’: Roger Ver’s Bitcoin Criticism Finds Zero Support

Roger Ver says Bitcoin is ‘cripple coin’ despite its break through to $11,000 Wednesday.

Bitcoin.com owner and Bitcoin Cash proponent Roger Ver has called Bitcoin ‘cripple coin’ despite prices rising over $11,000.

In comments on the r/BTC subreddit celebrating 50,000 transactions on cryptocurrency gambling site SatoshiDice, Ver defied optimism about Bitcoin’s 1,500% annual growth.

“As cripple coin is passing $10,000 SatoshiDice is about to surpass 50,000 on chain transactions with Bitcoin Cash!” he announced.

Ver has become increasingly outspoken on Bitcoin’s flaws since Bitcoin Cash (BCH) came into being in August. Despite erratic price and mining behavior, the entrepreneur formerly known as ‘Bitcoin Jesus’ has publicly divested himself of large amounts of BTC holdings in favor of the alternative chain.

His latest Reddit post, however, was met with little support.

“Roger, you're gonna be writing a lot more apologies if you keep acting this way,” one top response reads Wednesday.

Specific criticism came from users alleging hypocrisy on Ver’s part, having previously complained Bitcoin Cash was not being referred to by its correct name in the press and industry.

“Roger you can’t complain and lose your temper over people calling BCH by the wrong name and then call BTC ‘cripple coin,’ the most popular response states.

“You’re just asking for it if you continue like that. BTC’s limitations speak for themselves; there’s no need for childish rhetoric.”

The wider Bitcoin community similarly picked up on the lack of popularity as Bitcoin actually breaks through $11,000.

The only efforts to support Ver’s view came in the form of somewhat bizarre account u/Nonce_00000000, which used the argument that he was infallible solely due to his status as a millionaire.

Source: Coin Telegraph




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Bitclub Network allows you to buy mining shares with daily payouts

CCG Mining now offers open end contracts. Bitcoin, Ethereum, Zcash, Litecoin and others

Cointracking keeps track of all your coins automatically. Many exchanges and wallets supported

 

Oversupply of Bitcoin Will Burst the Bubble?

Bitcoin is a bubble that will pop because of oversupply, says one analyst.

A recent analysis regarding supply and demand suggests that the end of the Bitcoin bull run will come not as a result of lack of buyers but because of an overabundance of supply. The supply, according to the analyst, will come through new and varied ways to trade Bitcoin and from Bitcoin hard forks.

The analysis stems from the dot-com bubble in the late 1990s, when any company with .com in its name instantly received a huge market boost. However, the end of the dot-com bubble occurred when a huge number of new .com IPOs flooded the marketplace, many of which were unstable business models.

For a while the market absorbed them, but when the market finally corrected it pulled the rug out from all of those businesses and only the strong survived.

Whence Bitcoin supply?

One of the most important (and most repeated) features of Bitcoin is its limited supply. Ask anyone even remotely familiar with the cryptocurrency and they’ll tell you that only 21 mln Bitcoin will ever exist. With such limited supply, how could an oversupply ever  occur?

The answer is multifaceted. For starters, Bitcoin hard forks are now creating new derivatives from the original Bitcoin. For example, the Bitcoin Cash hard fork has now created an entirely new Bitcoin with a market cap of $26 bln. Whatever your politics on the BCH fork, the reality is that supply increased. The Bitcoin Gold and Bitcoin Diamond forks did the same.

Further, the issuance of Bitcoin futures may well be the cryptocurrency’s own undoing. Though hyped as an amazing mainstream adoption (true enough indeed), the reality that derivatives of Bitcoin will now be tradable may limit the depth of investment in the original and thin out the pool of investors. According to the analysis:

“…as the river of ways to invest in cryptocurrencies widens, the flood that has lifted the price of the Bitcoin will surely recede, and, as always, much faster than people expect."

Source: Coin Telegraph




My current recommendations:

HashFlare for automated Bitcoin cloud mining - Currently ROI in around 60 days only

Bitclub Network allows you to buy mining shares with daily payouts

CCG Mining now offers open end contracts. Bitcoin, Ethereum, Zcash, Litecoin and others

Cointracking keeps track of all your coins automatically. Many exchanges and wallets supported

 

Increasing Adoption Demonstrated by Huge Trading Weekend for Bitcoin, Soaring Prices Market-Wide

Cryptocurrency trading volumes reached nearly half of Nasdaq’s average on Sunday, showing increasing adoption.

In a sign that adoption is massively increasing, trading numbers from last weekend indicate that the volume of cryptocurrency trades exceeds that of many US equities trading markets. The volume of Bitcoin traded on this past Sunday alone was more than $5 bln – more than the IEX, the Chicago Stock Exchange, as well as many others.

Two weeks ago, a similar volume spike was caused by the sudden (and brief) reversal of fortunes between Bitcoin (BTC) and Bitcoin Cash (BCH), as the cancellation of the scaling proposal SegWit2X led to a massive pump of the latter. Prices for BCH rose to a stunning $2,500, and many speculated that the community had begun shifting loyalties.  As the BCH price pump continued, BTC lost 25% of its value, dropping to $5,500.

Yet the reversal was reversed again, as Bitcoin came roaring back and Bitcoin Cash slumped. The price of Bitcoin quickly returned to its previous level, then consolidated at an all-time high before pushing through $9,000 and threatening the carefully-watched $10,000 level this weekend.

Adoption growing

Devotees to either cryptocurrency will argue that the other is a ‘fraud,’ echoing the words of anti-crypto incumbents. However, a more emotionally removed view of the situation should be encouraging for all. Such huge volumes of trading show that demand for and participation in crypto markets is increasing.

Though the end of SegWit2X may have brought some BCH buyers out of the woodwork, it appears that many of the market movers are less convinced. Nevertheless, the substantial price bump has brought the altcoin into the spotlight, increasing adoption. For example, Ami Ben David Co-Founder of SPiCE VC said:

“We clearly see stronger support for Bitcoin as the original and decentralized coin, but at the same time, Bitcoin Cash has suddenly arrived in terms of adoption levels to the size of Ethereum, to the point where we have decided to add Bitcoin Cash as an investment option on our token sale and we expect other token issuers to follow suit.”

Rising tide

This week’s spike in the price of Bitcoin was met with equally impressive rallies in a number of altcoins, with Dash, Ethereum and Litecoin soaring to all-time highs as well. This is highly unusual, as Bitcoin’s bull runs usually suck money out of altcoins and causes a slump in their prices. The concurrent growth of Bitcoin and altcoins is a good sign: it indicates that outside money is flowing into digital currency.

Source: Coin Telegraph




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HashFlare for automated Bitcoin cloud mining - Currently ROI in around 60 days only

Bitclub Network allows you to buy mining shares with daily payouts

CCG Mining now offers open end contracts. Bitcoin, Ethereum, Zcash, Litecoin and others

Cointracking keeps track of all your coins automatically. Many exchanges and wallets supported

 

Bitcoin Eyes $15k in 2018, But Don’t Ditch Forks: Interview With Ronnie Moas

Investor Ronnie Moas shares his opinions on Bitcoin’s future, with a particular emphasis on the currency’s many forks.

‘Prolific’ stock picker Ronnie Moas has had success with Bitcoin price predictions this year. From $2000 to $5000 and $7500 – all of these have come true for the investor who was earlier than most in the financial realm to advocate for cryptocurrency propagation.

Now, with an increasingly large number of subscribers eager to get his insight on what’s next, Moas is delivering more surprising advice. Holding on to Bitcoin forks is among his recommendations for cryptocurrency success going forward, something which may well upset some of the more die-hard Bitcoin Core supporters.

In an interview with Cointelegraph, Moas shared more about his perspective on prices, forks and Wall Street’s entry into the market in the form of CME Group’s futures trading next month.

Cointelegraph: The investment community is still split regarding even Bitcoin's short-term price prospects. Where do you stand in regard to the next 6-12 months? How much optimism (or pessimism) is overkill?

Ronnie Moas: In the next 6-12 months I expect that Bitcoin will make a push towards $15,000 (and possibly $20,000). I look at the ‘Bitcoin price’ as Bitcoin plus Bitcoin Cash plus Bitcoin Gold… by that calculation we [have already] hit $10,000 … up from $2,570 when I recommended Bitcoin in early July.

This is not a bubble and it is not irrational exuberance. Bitcoin is currently trading 80%-90% below where I think it's going in the next five years.

If 1% of the $200 trillion currently in stocks, cash, gold and bonds [all overvalued] worldwide ends up in Bitcoin, then Bitcoin will hit $125,000. An argument can be made that Bitcoin will eventually catch gold at about $250,000-$500,000 per coin. At what exact point they cross depends on how many years it takes and where gold trades at the time.

CT: What is your approach to the Bitcoin Cash phenomenon and its future? How do you see future fork attempts playing out?

RM: I strongly advise people to hold on to the spin-off coins Bitcoin Gold … and especially Bitcoin Cash. I think people learned their lesson a couple of weeks ago when Bitcoin Cash jumped by 150% in 48 hours while Bitcoin corrected by 20%. I am a strong believer in diversification.

CT: How would you assess the impact of CME Group's Bitcoin futures debut next month?

RM: The move by the CME is significant in that it is a stamp of approval of sorts on Bitcoin and cryptocurrency which now has a [300] billion dollar valuation – that is more than Goldman Sachs, Starbucks and General Motors… combined!

Anyone who is looking for a bubble should not be looking towards the top 20 crypto names… they should be looking towards the stock market as most names are now trading at (or above) 20X earnings.

Not only does the CME stamp serve as an endorsement of sorts – it also brings us one step closer to getting an ETF on Wall Street.

Once that happens, institutional money will start pouring in and retail investors will now be able to invest in crypto without worrying about opening up accounts on foreign exchanges and worrying about how to protect their accounts – which most people have difficulty figuring out how to do. In my opinion the floodgates will open in 2018.

CT: Which other cryptocurrencies are you a fan of based on technical robustness?

RM: I prefer for people to sign up for my service if they want my recommendations outside of Bitcoin. I have quite a few and I don't really like to give out my recommendations for free because then my subscribers get upset. Some names that I recommended doing well for my clients include but are not limited to Litecoin, Bitcoin Cash, Dash, Monero and Stellar Lumens.

Source: Coin Telegraph




My current recommendations:

HashFlare for automated Bitcoin cloud mining - Currently ROI in around 60 days only

Bitclub Network allows you to buy mining shares with daily payouts

CCG Mining now offers open end contracts. Bitcoin, Ethereum, Zcash, Litecoin and others

Cointracking keeps track of all your coins automatically. Many exchanges and wallets supported