Bitcoin will surge past $20,000 and continue its meteoric march into six figures, according to independent research analyst Ronnie Moas. "Bitcoin is already up 500 percent since I recommended it in the beginning of July, and I'm looking for another 500 percent move from here," said Moas, the founder of Standpoint Research, a self-described "one-man operation" based in Miami. Over the summer, Moas put a $5,000 price target on bitcoin for 2018. At the time, the digital currency was trading at just $2,600. Since then, it has surged to $18,168 as of Monday, according to prices tracked on Coinbase.
Bitcoin price: Ronnie Moas sees cryptocurrency at $300,000-$400,000
Riot Blockchain is just one of many companies that have seen a significant jump in market cap after announcing a pivot to the blockchain space. Over the past week, shares of LongFin Corp. soared as much as 2,400% after that company announced it had purchased Ziddu, a blockchain company specializing in business-to-business warehouse payments. Getting in on the area has been a hot trend as of late as companies look to capitalize on the booming cryptocurrency space. This past weekend, CME Group launched bitcoin futures, sending the cryptocurrency to a record high near $20,000 a coin. In total, the cryptocurrency universe has a market cap of more than $600 billion, according to CoinMarketCap.com.
Riot Blockchain: Citron Research says stock reached 'full mania' - Business Insider
The most bullish call for the digital currency bitcoin so far has been at about $1 million, while the most bearish call from those who dismiss it as a fraud or a bubble think it will crash to zero. Covering his bases, Teunis Brosens, a senior economist at ING, sees both extreme targets as possible. Although the most probable outcome, in his view, is for bitcoin to survive in a less high-profile way than it currently has. “The ‘true’ value of Bitcoin depends on its future use case,” wrote Brosens. “If users would, en masse, lose interest, then it could end at zero. On the other hand, in the unlikely scenario that Bitcoin takes over all worldwide payments, its value could rise beyond $1 million.” Brosens didn’t give a specific target, but suggested that over the long term, the digital currency “has little to offer a wider audience, and will likely return to being a niche product for a select group of enthusiasts.”
One economist says bitcoin could hit $0—or $1 million - MarketWatch
People may be flabbergasted by the idea of an illustration of a cat selling for more than $114,000, but CryptoKitties is more than that, according to its founders. It's a lesson in both blockchain and genetics wrapped up in a digital game. "There's no central organization that owns these things," said CryptoKitties co-founder Mack Flavelle. "These cats do a great job of explaining blockchain to people. There's a democratization of how to use blockchain."
CryptoKitties makes it easy to understand blockchain and genetics