Bitcoin could nearly double and reach $5,000USD soon, says Standpoint Research

Stock research analyst Ronnie Moas said he bought bitcoin this weekend and thinks it could reach $5,000USD within a year.

“$5,000USD could happen in a few months. It’s only starting to gain traction right now,” Moas, founder of Standpoint Research, told CNBC in a phone interview Wednesday. “It’s starting to spread like wildfire right now.”

He pointed out that since only 21 million bitcoin can ever exist, increasing demand for the digital currency will naturally drive its price up.The research analyst’s view on Bitcoin joins the optimistic views of others on Wall Street. On Sunday, Goldman Sachs’ technical analyst Sheba Jafari said in a note that bitcoin could rise as high as $3,915USD.

“In the next 6 to 12 months you’re going to have a little bit of a hysteria,” Moas said. However, “this has a long, long way to go before it gets to bubble territory.”

Click here to read the full story on news.bitcoin.com

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