The Floodgates are Opening!
The Cryptocurrency markets are about to party like it's 1995.
Get out your dancing shoes ladies and gentlemen.
Think tech stocks, think NASDAQ, think the internet.
That's right, in a statement out from Ronnie Moas yesterday, he said he thinks this is just the beginning of the adoption curve for cryptocurrencies.
In his words:
"This 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 internet users."
A 10x increase, that sounds nice.
However, don't forget what happened next:
"The following year the Netscape browser came online and we went from 10 million internet users to hundreds of millions of users overnight."
Now we are talking!
That sounds great, but who the heck is Ronnie Moas?
For one, he has a great last name. In stock circles, MOASS stands for Mother Of All Short Squeezes. So, with Moas, he certainly has got the right name for the industry.
He is an independent stock researcher that has long made great calls for his clients predicting macro stock trends.
Regarding cryptocurrencies, he called for Bitcoin to hit $5000 this year a few months back, before many of the others have made a similar call more recently.
I wrote about him a little back then, it can be read here:
Since that time Moas has basically gone all in on cryptocurrencies.
In fact, you can probably remove that "basically" word as he has in fact gone all in on cryptocurrencies.
He stated yesterday that 100% of his investments are in cryptocurrencies. With the largest investments being Bitcoin and Ether.
This is unusual for him because in the past couple decades of being a stock research analyst, he rarely, if ever, bought the stocks he would recommend.
This is the first time he is actually putting his money where his mouth is, and that speaks louder than anything in my opinion.
Flood gates opening indeed.
According to Moas, what's happening right now is simple:
"What's happening is the floodgates are opening. I believe there are hedge fund and very deep-pocketed individuals getting into this now, really hundreds of millions of dollars."
Then you can factor in people in less developed countries buying in to protect their wealth against wildly fluctuating local currencies.
"You can't look at this like a normal situation. We are looking at an industry that will probably go from $140 billion to over $2 trillion in the next couple years."
For those reasons, he is happy putting his entire investing portfolio in the space, although he is the first to caution against leaving all of it on a single exchange.
Stay informed my friends.
Sources:
https://www.cnbc.com/2017/08/14/standpoints-ronnie-moas-raises-bitcoin-price-target-to-7500.html
Image Sources:
https://twitter.com/ronniemoas
https://humblestudentofthemarkets.com/2016/08/14/party-like-its-1999-or-1995/
http://moocnewsandreviews.com/moocs-for-credit-udacity-and-sjsu-crack-open-the-flood-gates/
Follow me: @jrcornel
These analysts and their price targets are so wack...they change them daily!
Flood gates are opening for sure though. CNBC talks about bitcoin daily...and many of their very conservative fund managers own bitcoin and talk about the other cryptos. They are still learning about the other cryptos at this point, but some were talking about owning 1% crypto in their portfolio of assets. 1% is huge!
Ah you saw that segment on the half time report as well? :) This is how it starts.
It will mean potentially lower volatility once more traders jump on the bandwagon. Lower returns also though. I'm going to try and enjoy the 10% daily swings in some of the top 10 currencies while it lasts!
If you wanna be part of a very bullsih asset, check out NEO. The chinese market is primed for mobile payments, and digitizing of assets. NEO will take a majority of this market share. Just posted an instructional video on acquiring and securing your NEO check it out https://steemit.com/cryptocurrency/@tswoop/neo-instructional-video-for-beginners-from-buying-bitcoin-exchanging-for-neo-sending-to-the-neon-wallet
Have been trading NEO for a couple days now...loving the swings.
It's going north in a hurry.. be interesting to see what transpires with the price by the end of the year. I have to say it has me glued to my computer screen. I'm quite sure we are seeing an amazing transformation in how business is done and will possibly create a transformation of wealth.... one can hope anyway.
Thanks for sharing
Do you own Bitcoin? Learn which altcoins are giving away free money to Bitcoin holders.
Cryptocurrency is the future! Let the floodgates open!
Read your previous article and from that time to this time I've dipped my toes even deeper in the cryptospace. I can almost hear the massive FOMOing that will happen in the next few months to come, but unlike Moas I can never be 100% crypto. I don't want to be left homeless when this turns sour.
As a side note thank you @jrcornel for taking the time to put your research here for us to see. You are one of the guys I like to check up on in my quest for learning our new economics. It's fantastic to know you're a fellow SA boitjie, and that makes me proud.
Wouldn't it be grand if we could start some kind of crypto stokvel ;-)
Peaceout.
Totally agee with the commenter above, Pierre... You are one of the people I follow to gain a deeper understanding/insights into the Crypto Markets. You've been around this "new" type of "money" much longer than myself and that's why I'm following You !!
Thanks Again @JrCornel for writing this Post... Hope You're having a Good Week !!
Cheers !!
Thank you guys! You make me feel all warm and fuzzy inside :)
Moas is the man, and investing his own money adds to the wave of dollars coming into crypto. Probably not a bad time to learn how to surf.
Crypto's are the new economic future. But a word to the wise.. Education, patience and a firm personal strategy is key. I worked in the casino industry for years and the winners were (few and far between) always consistent in their strategies. The best strategy was: invest only what was allocated for that activity, invest in small blocks of your total, walk away for the day if the trading was bad, don't limit your wins, but always, always apply a trailing stop loss.. and never let your emotions control your next move.. stick to the plan.
I totally agree in sticking to your plan. If something is not broken why fix it.
I too worked in Casinos it is an interesting place to say the least. I view all my investments as gambling my brother gambles but since seeing the emotional toll it takes on people that return day in and day out. I can say that is not for me.
Bitcoin is going to flood before it's sunny again and it's for a big cause . And I totally agree with him and his investments in btC and Eth. Those are smart choices , many people will start selling people it's falling , it's good to regulate money so we will have a push back up soon . You can't expect something to keep going up and never fall .
"An object in motion , will remain in motion, unless acted on by an equal of opposite force" that answers it all
what goes up must come down.
Agreed 👌🏽
I think it's definitely unavoidable, so few people are aware it even exists, cheers