In a report published in part on Sunday, Standpoint Research founder and independent stock analyst Ronnie Moas predicts a favorable future for cryptocurrencies.
Moas spent the better part of last month testing out digital currencies. He wrote that he expects the solid performance of cryptocoins like bitcoin and ether to continue, and he predicts the value of the latter will double by 2018 to about $400. He previously said that he expects the value of bitcoin to increase to $5,000 per token by 2018 and possibly reach $50,000 in the next 10 years.
Aside from cryptocurrency heavyweights Bitcoin and Ethereum, the report also featured alternative cryptocoin Litecoin. Moas predicts that the price of this so-called “silver bitcoin” will double in 2018 to $80.
“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 wrote in the new report, according to CNBC.
Ultimately, he encourages investors to give cryptocurrencies a try: “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.”
Disclosure: Several members of the Futurism team, including the editors of this piece, are personal investors in a number of cryptocurrency markets. Their personal investment perspectives have no impact on editorial content.