"The Floodgates Are Opening" - Standpoint Predicts Bitcoin To Hit $7500, Goldman Raises Outlook

Tyler Durden's picture

Standpoint researcher Ronnie Moas raised his price target for bitcoin from $5,000 to $7,500, according to CNBC. Moas raised his price target after bitcoin reached the new all-time high this weekend.

Moas his belief that hedge funds and more traditional investors are just starting to invest in bitcoin. Many expect that the CFTC’s decision to authorize the creation of the first clearinghouse for bitcoin options and swaps will hasten adoption by hedge funds and other more sophisticated traders.

"What's happening is the floodgates are opening," Moas, founder of Standpoint Research, said in a phone interview with CNBC on Monday.

 

"I believe there are hedge funds and very deep-pocketed individuals going into this now, really hundreds of millions of dollars."

The longtime stock analyst first explained his bullish case in a research report published last month.

Moas also believes that central banks will soon discover bitcoin’s usefulness as a reserve asset.

As institutional investor interest in bitcoin grows, Moas expects digital currencies to become part of "strategic reserves" and "asset allocation models in the near future." He also said people in foreign countries will likely want to buy digital currencies as a more stable alternative to their national currencies.

"You can't look at this as a normal situation," he said. "We're in an industry that will probably go from $140 billion to $2 trillion and the bitcoin price will probably move with that."

Amazingly, Moas claims 100% of his investments are in digital currencies, with the majority in bitcoin and Ethereum, according to CNBC.

Moas call comes on the heels of Goldman Sachs' chief technician Sheba Jafari increased her forecast for Bitcoin to over $4800...

Now that the market is getting closer to reaching this level, it’s going to be important to take note of any/all signs of trend exhaustion.

 

There is of note a 2.618 extension which runs as far as $4,827.

 

 

Once a full 5-wave sequence is in place, the market should in theory enter a corrective phase.

 

This can last at least one third of the time it took to complete the preceding advance and retrace at least 38.2% of the entire move. From current levels, that would measure out to ~2,221.

Finally, we note Moas' conclusion that, if anything, his estimates are conservative.

"Any way that I look at these numbers, my forecasts are looking conservative. It looks to me as though we are at the same point in the adoption curve as we were in 1995 when we went from one million internet users to ten million. The following year the Netscape browser came online and we went from 10 million users to hundreds of millions of users overnight.

 

I expect that within a couple of years we will have between 50 and 100 million cryptocurrency users -- up from approximately ~10 million today. We only have 0.15% market penetration right now -- if that goes to 2% or 3% we will get to the $50,000 price target that I set at the beginning of July."

Moas maintains his view that the digital currency could reach $50,000 by 2027.

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GooseShtepping Moron's picture

Go ahead and pump it to the moon. I'm still not buying any.

Stackers's picture

Damn it. Was really looking forward to watching McAfee gobble his own knob

nope-1004's picture

Reveals he had inside info, that's all.

tmosley's picture

Nothing inside about it, peanut.

nope-1004's picture

lmao.... you chased silver into the poor house, whined about it like a stuck Irish pig for a year or two, now chasing an obvious crypto bubble.  Ya, I listen to what you have to offer.

When this blows up, what's next mosley?  Gonna jump off a bridge?  Or just CRY 2.0 on every bitcoin thread?

LOL

 

tmosley's picture

Hahaha, funny that peanutz criticize me for no longer doing the ineffective thing that they keep doing.

Reminds me of the behavior of Muds when they hear about someone abandoning their shitty religion.

AtATrESICI's picture

God Damn are you a paid crypto troll or just a dogmatic true believer?

If you clean Satoshi's cum out of your ears you might learns something that is useful in your endeavor.

AtATrESICI's picture

It was only a humble observation.

What is your angle to make folks hate cryptos or make them think that people who fuck with cryptos are total tards? If so you are well on your way in those regards.

tmosley's picture

More for me, less for thee.

Also, I like eating peanutz for breakfast. And lunch. And dinner. So salty.

AtATrESICI's picture

A few more points...

You do not know who the folks on ZH really are or what they do or do not do. Why in the fuck would they let anyone on the site know especially you, your mouth runs like a overflowing sewer. Please stop acting like a nigger street dealer taking pictures and talking shit about your very small stacks and tiny amounts of street dope. The real movers don't talk shit as their actions fill the world with flame...

tmosley's picture

Hahahahaha, plenty of the real winners talk like that, sweetheart.

Also, responding to tone is...NOT AN ARGUMENT.

AtATrESICI's picture

Real winners.

Okay??? Are you a developer? What projects have you launched, are you affiliated with, have been affiliated with? Or are you just a bottom feeder feeding off the crumbs that The Devel's dropped at some exchange somewhere? Nigger, the value of the blockchain is as yet to be conceived, software, service, and the tokenization of some value THAT IS NOT USD or monetary at all. What we have now is a way for ignorant as fuck mother fuckers to speculate while funding software development that they do not know shit about (fantastic for the software development community, technocratic class and owners...not so good for shit for brain end users who will programmatically be eaten whole while funding their own downfall) (meaning the tech R&d is socialized through crowd funding then sold the the banks and corporations privatized (you think this is different than anything else...you will not even heed what I say because a token amount of fiat makes you feel like the smartest person in the world??? )). Thanks for the funding.... You are clearly a fucking moron of the first order and possibly a street urchin of african descent. Good luck with your crypto evangelism, at this you are totally fucking useless.

Remember everything the system guys and developers instruct their coders too code is for the fucking children...RIGHT???

Know this in NOT AN ARGUMENT it is a fact... and have another drink and smoke some more weed. People say that rearranging the deck chairs is more distracting while one is high and drunk.

And thanks again....Keep on hopey, changey, fundy, and thinking this time is different.

~AtATrESICI

tmosley's picture

Hahahaha, quite a word salad you have prepared there.

Why don't you go weep into the bowl as you consume it?

AtATrESICI's picture

Tell us some stories about kyc??? Off grid?

HRH Feant2's picture

I thought Mosly reminded me of someone! Thanks you just confirmed it for me! JSNIP4, the Utuber!

unsafe-space-time's picture

I knew bitcoin would skyrocket when it was still reasonably priced. It is deflationary. Wish i wasn't broke back then. There is nothing to stop it now except other cryptos. And since govtards aren't stopping  it's meant to keep metals from rising and prevent debt money inflation while inflating stocks. All excess debt money will keep going to cryptos and stocks.

apocalypticbrother's picture

Until it doesn't. When most oil starts trading outside US dollar it may slow down those stawks and cryptos a bit...

Rusty Shorts's picture

Bitcoin - Lining the sheep up for the slaughter.

sirsmokum's picture

Bitcoin - Goldman mooning the price as they try to obtain as much of it as possible in order to remain relevant in the new world economy.

 

Sadly for them it won't work.

walküre's picture

I think it was GS that drove oil futures to $150 and then crashed the markets

GS doing God's work.

Says in the bible.. "The Lord giveth and the Lord taketh away"

Trust me, these guys have been at it longer than anyone else and they never lose.

Justin Case's picture

GS was shorting gold as they were calling for $200/bbl. They also shorted MBS's when they were issued to countries and pension funds.

VD's picture

stawk-muppets, commodities-muppets and now crypto-muppets -- goldman will be fleecing good and hard on all sides of this crypto-scam AND remember, goldman owns the fed and the fed is already well into this space -- watch out.

 

plus, when you convert your btc that centralized gov will be waiting for you as they audit any biz accepting it.

spastic_colon's picture

no offense to anyone but man the boomers are suckerz.........the drug companies made trillions by convincing them they needed to take a drug for EVERYTHING, because they knew they were already conditioned to do so; their nose rings have GOT to be getting raw.

my 87 yr old dad asked me about bitcoin the other day; apparently he still takes the local paper; I was speechless lol

VD's picture

everybody in -- it's a once in a lifetime chance, you cant lose and you have to buy now, right now!

 

the geezerz will be rolled into this, even if its via btc ETF's, they are getting herded in.

blueskyranch's picture

None taken. I know of no Boomers who are jumping on the BC wagon. They don't understand it enough. Aside - I'm elated to have lived long enough to see a real, live, tulipmania in action!! It is gonna hurt when everyone looks around and BC is $10k but there are no new buyers...exits will burst. 

Keep stakn real PMs bitchez. 

Advoc8tr's picture

Cliff High would be a Boomer and he's definitely on board ... but he is very lonely.

HRH Feant2's picture

At least your dad still reads. Be happy. As for the paper? Yikes! Dirty, messy, too big and you can't resize to suit you. I am surprised they had an article about BTC.

thedespised's picture

When it hits a million, I wonder if you'll stiill feel the same?  What, are you afraid of providing wealth for your family?

GooseShtepping Moron's picture

Even supposing I could personally benefit from buying Bitcoin, my choice would still be to bow out of this bubble with some dignity rather than participate in it.

Grave's picture

its not a bubble, its called market adoption and its still just the shallow beginning of s-curve,
if you flatearther dumbasses listened and bought even a year ago, you would be swimming in massive profits, increasing your wealth by orders of magnitude

but nooo, its "bubble this bubble that"
i'm going to laugh in your stupid faces when you will be forced to buy as it hits 1m haha

Winston Churchill's picture

Tell us when it become legal tender to pay taxes.

Then you will find out who is the boss/same as the old boss.

The CBs are probably laughing their heads off, someone else is doing their development work,

and its keeping investors away from PMs.

They're evil not stupid,whereas you may not be evil but could be.....

The blockchain will be co-opted, just like they've done to everything else.

Grave's picture

they tried at least 5 times already
but thanks to its distributed, decentralized and open source nature fuckers hostile takeover attempts failed miserably.
next attempt is in autumn when the fuckers will try to force their trojan 2x shittery on bitcoin.

bitcoin is resistant to change for a reason,
and therefore highly resistant to hostile takeovers

bitcoin is THE blockchain
they will try to fool sheeple into their shitty fascist corporate intranets (shitereum, shitpple, etc),
but bitcoin is THE internet of fintech.

JRev's picture

They cannot co-opt what they helped to birth. Cryptocurrencies are based on payment algos and mathematical proofs originally theorized by the NSA for use and issuance by banks. The SHA2 hashing algorithm was designed to secure internal NSA and military secrets - virtually uncrackable.

Then some crazy cypherpunk came along, stole all their best tech, open-sourced it, and solved the previously unsolvable Byzantine Generals Problem not by cryptography, but through applied economics and incentivizing the network (block rewards).

I feel bad for the cryptophobes - y'all have NO IDEA what kind of Pandora's Box Satoshi opened and how massive a threat it's become. But don't take my word for it, just ask the CIA think-tankers over at the RAND corporation how they feel about "non-State cryptocurrency": 

https://www.rand.org/content/dam/rand/pubs/research_reports/RR1200/RR123...

Advoc8tr's picture

By then we'll have enough to buy 100 times the gold we started with.  Where's the problem ?  They already control FIAT,  they control Gold,   MAYBE they control BTC at some point in future although that is up for debate still ... 

zebra77a's picture

Wont work.. Black box GDP is Black box GDP or

What Happens In Crypto stays in Crypto

Here is how your government may 'tax' in 20 years they will come to your door and demand 0.004 bitcoin or else! People will find owning homes a massive disadvantage property rights might disappear all together..

Like the serfs of the 1600's had to pay a portion of their crops..

But it will only breed extreme poverty and strife..

JRev's picture

Leaving massive gains on the table isn't dignity, it's called poor investing. Bitcoin 10k+ by this time next year.

Beyond Organics's picture

No!, just a 'GooseShtepping Moron'.

Justin Case's picture

Best of luck. Until you are out of it, you have nothing but potential fiat wealth, after taxes. But Bitcoin has nothing to do with wealth preservation. Just like with paper money, there is no tangible asset backing it. Also, cryptocurrencies are totally dependent on an electronic world and the internet. So whilst Bitcoin could continue to go up in a speculative frenzy, it will never replace the only money which has survived for 5,000 years. Bitcoin is only one of many cryptocurrencies. New ones are being launched continuously and thus created in a similar fashion to how paper money is printed, thus without an underlying service or exchange of goods. The one major advantage that Bitcoin has and which makes it so popular is that is not controlled by governments and can therefore not be manipulated by them. If cryptocurrencies become too successful that could of course change.

HRClinton's picture

Back in 2011, a close friend of mine bought $50k in each of the following:

Detroit rental property, stocks, PM and BTC. For a total of $200k. He kept $50 in cash reserves.

 

He lost his shirt on Detroit RE (Sec.8 Naggers missed many rents and caused frequent damage). He dumped it at a loss, and took the tax write downs. 

He lost half of his PM value. $50k became $25k. Since he did not keep his bullion receipts, he could not his Tax write downs. 

His stocks went up >50%. $50k became $77k.

His BTC went up 38x. $50k became $2M.

 

I don't think he's looking to ZH bloggers for investment advice.  Had he done so, his $200k would be worth <$100k.

Gordon_Gekko's picture

I guess he was lucky he didn't lose it in Mt Gox. scam.

JRev's picture

Or the Cryptsy scam. Lost a small amount there

Or the BullionDirect scam. Didn't lose any, but I feel for those who did.

Or the Elemetals scam, which actually involved murdering people in Chile for silver. So much for an end to the "Debt and Death" paradigm. I have a few of their rounds in my collection and it genuinely disgusts me. 

Scams abound. Bitcoin is not one of them. Millions of Americans who could've bought a whole bitcoin this time last year can no longer afford to do so. They've been effectively priced out of a seat on the rocket ship. Once bitcoin hits $10,000, millions more will be priced out. Just don't wait too long, or else you won't be able to join me, tmosley, and fonestar on some yet-to-be-identified island paradise sipping adult beverages. 

tmosley's picture

Yeah, I had some dust on Cryptsy that would now be worth somewhere in the tens of thousands.

Hurts every time I look at veritaseum.

Learned my lesson. Got a modern computer, and download wallets for anything I want to buy, even if I only want to put in $200. Leave NOTHING on the exchange, 

Justin Case's picture

He cashed in, then he made lotsa fiat money. From one utility to another, unless he converted fiat to tagible asset/s that will survive a financial tsunami. Every one has a comfort zone with an investment. Some win some lose. That's today. What will hapen tomorrow, (10-15yrs.) we'll have to wait. 2m may not last the next 10yrs. Who knows? He got lucky, good for him. Diversification saved his bacon.

What to invest in next usually has some age considerations or health. Everyone's situation is different. Bill Gates was a college drop out. Steve jobs had all the money and moar, but couldn't save his life. Opinions are like assholes, everyone has one.

I don't think anyone here comes for investment advice. I like to think people come here to share ideas and opinions of many flavors. I'm not fond of the half wits cursing at someone with an opinion that differs of theirs. That is for the kids with a narrow vocabulary and constrained abitity to think or express themselves in a dignified manner.

JethroBodien's picture

This might be a good time to yell the emperor has no clothes.