Stock analysts say that crypto is tipped to continue rising
A prominent stock analyst Ronnie Moas has stated that the value of cryptocurrencies will continue to thrive in 2018, rising to all-time highs. He believes that cryptocurrencies are poised to take market shares away from stocks, bonds, and other currencies and that this is just the beginning.
In a report published last week, Moas, the founder of Standpoint Research and leading independent analyst has remained positive in his predictions for the future of the sector. After spending last month testing out a range of virtual currencies, he wrote that he expects coins such as Bitcoin and Ether to continue, with the value of Ether doubling by the end of 2018. He has previously tipped Bitcoin to reach an all-time high of $50,000 in the next 10 years.
At the moment, one Ether token is worth $219, an increase of 5% on the previous week, whilst a BTC is valued at $3000. Moas’ report also featured predictions for the alternative cryptocurrency, Litecoin, stating that he believes it will double to $80 by the end of the year.
“In my view, the genie is out of the bottle, and cryptocurrencies will continue to rise and take market share away from stocks, other precious metals, bonds, and currencies,” Moas told CNBC.
His ultimate message to investors is to have a go at investing in cryptocurrencies.
“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. 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.”
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