Bitcoin bull Ronnie Moas has raised his 2018 bitcoin price target to $11,000.

“Every day more headlines are hitting the newswires on crypto,” Moas wrote in a note emailed to clients. “More countries are embracing it and the few obstacles that were standing in the way are falling down like dominoes.”

This is not the only time Moas has raised his bitcoin price target in recent months. Earlier this year, he set a $5,000 bitcoin price target, which he later raised to $7,500 during the market’s Q3 surge. Now, as the bitcoin price approaches that revised target, he has written a note to Standpoint clients advising them that he believes the bitcoin price will hit $11,000 in 2018.

But Moas does not think bitcoin will stop there. He expects that within 10 years at least 1% of all capital – an estimated $200 trillion – will move into crypto assets, raising the total cryptocurrency market cap tenfold to $2 trillion. Assuming bitcoin holds a 50% market share, the bitcoin price would be roughly $50,000. That’s his conservative estimate.