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




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

 

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