Analyst: Bitcoin Will Hit $5,000 Level Soonbr>
Standpoint Research founder Ronnie Moas told CNBC that he believes bitcoin will hit the $5,000 per single coin level “within a few months.”
The stock research analyst said bitcoin is gaining price momentum. “$5,000 could happen in a few months. It’s only starting to gain traction right now. It’s starting to spread like wildfire right now.”
Moas said he bought bitcoin, ethereum and Litecoin this weekend, and plans to invest more.
“This is not something I could keep my hands off of,” Moas said. “What would be more painful than losing is not acting. In the next 6 to 12 months you’re going to have a little bit of a hysteria. But, he added, “this has a long, long way to go before it gets to bubble territory. There will be scams, there will be accounts wiped out, there will be people that get hurt, like every other technology that is going on. I think the cryptocurrency is here to stay. I think we’re in the second inning of a 9-inning ball game.”