Ronnie Moas, analyst and standpoint research founder has predicted that Bitcoin hits value of $15000-$20000 by 2020. There is a continual upward trend in Bitcoin, few times flirting with the $4500 level. It makes a single Bitcoin worth about three ounces of gold.
Moas’ prediction for the cryptocurrency market
According to Ronnie Moas, the total market capitalization of virtual currencies will soar from today’s $150 billion to $2 trillion in the next decades. Comparatively, he said, the exceptional performance of the digital currency market to the “dot-com boom” of the 1990s.
“I am not any more concerned with Bitcoin being at a record high than Amazon or Google investors were concerned when those share prices jumped hundreds of percent and hit $100 and $200 many years ago. Today, both of those stocks are above $900. The question is not where we are at — it is where being we going? I do not think we are in a bubble.”
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Some negative views on the cryptocurrency market
As everyone are not concerned about its long-term feasibility, the phenomenal performance of the digital currency market. One of the skeptics is investor Peter Schiff, previously who had projected the 2008 mortgage crisis.
According to Schiff, Bitcoin and other virtual currencies are in bubble and are merely a Ponzi scheme driven by “just plain greed”. Considering those comments, it’s uncertain if Schiff knows the definition of “Ponzi scheme”.