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Bitcoin Destined For $28,000 In 2018

LearnOutLoud.com

From Bitcoin in the  News

Moas Speaking to Cointelegraph last week in an exclusive profile interview, Moas explained why he believes Bitcoin is destined to become the most valuable currency in the world.

The 50-year-old is confident it will eventually surpass China and Gold in terms of market capitalization: “Bitcoin would have to jump 20x from where it is now to hit that number one spot. That would put its valuation at around $6 tln, which is near where Gold and China are right now.” “Why do I think Bitcoin deserves the same valuation as gold? It’s very simple, I don’t know how much Gold there is in the ground, But I know how much Bitcoin there is, and I also know that if the current pace continues with one to two mln people around the world opening up new crypto accounts. We will have a few hundred million people by this time two years from now trying to get their hands on a few million Bitcoin that are available.”

Another driving factor in Moas’ 2018 prediction is the actual supply of Bitcoin. A recent study estimated that nearly four mln Bitcoin are lost forever – accounting for over 20 percent of the coins mined to this day. That isn’t counting bullish investors that ‘hodl’ their Bitcoin: “The number (of Bitcoin available) is a lot lower than what people think it is. A lot of the Bitcoin has been lost, some of it hasn’t been mined and then you have a lot of people like myself that just won’t sell their Bitcoin at any price.”

So where does that leave Moas in terms of a price target in 2018? To understand how he goes about putting a price on the virtual currency, we need to understand where he started in the first place: “My feeling all along is that Bitcoin is going to hit the top of the mountain. As far as my price targets go, I started out with a $50,000 target back in July – we were at $2,570 at the time. Had I told people where I really thought it was going at the time, they would have thought I was on drugs. You can’t put out $200-300,000 target on something when it’s trading at $2,570, people just won’t take you seriously.” “So what I did was put my target out, and every few weeks as news comes out, and the obstacles and dominoes in Bitcoin’s path get knocked down, I adjust my price target.”
Moas has drawn a line in the sand already: “My target for 2018 is $28,000 and it may get upgraded again in the next few months.” (cointelegraph.com)

This news comes just on heels from the Tuesday Digi Millionaire Webinar of a Bitcoin discussion.

Go view that 1.5 hour replay here -> https://youtu.be/lkrUi-MDqAM




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