In what may seem as corroboration of Goldman Sachs’ $4,000 price prediction for bitcoin, founder of Standpoint Research, Ronnie Moas said he believes price of the cryptocurrency will reach $5000 soon.
While Goldman Sachs’ analyst Sheba Jafari did not indicate when the bump in price was likely to happen, Moas said it could be “in a few months”.
Speaking to CNBC, Moas said bitcoin has started to gain traction and “It’s starting to spread like wildfire right now.”
The more than 150 percent jump, according to him, will be largely driven by increased demand for the world’s most valuable digital currency.
Moas who recently invested money in bitcoin, ethereum and another digital currency called litecoin said, “This is not something I could keep my hands off of. What would be painful than losing is not acting.”
He further revealed that his company will be releasing a 40-page report on cryptocurrencies in the next few weeks, after which he will invest in more digital currencies.
“In the next 6 to 12 months you are going to have a little bit of hysteria. This has a long, long way to go before it gets to bubble territory,” Moas said.
He also added that as demand increases and price soars there will be more scams and many investments will be affected.
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