Bitcoin’s meteoric rise will continue at least up to the benchmark high of $7,500 and the digital currency could surge to $50,000 in 2027, longtime stock researcher and founder of Standpoint Research Ronnie Moas advised his clients on Monday after Bitcoin’s price cruised through $4000.
"What's happening is the floodgates are opening. I believe there are hedge funds and very deep-pocketed individuals going into this now, really hundreds of millions of dollars,” Moas said in a phone interview with CNBC.
Financial analyst Max Keiser earlier this month predicted that Bitcoin price will “cruise through” $5,000 in the nearest future.
On Monday, August 14, Bitcoin’s (BITCOIN: Bitcoin) price has already topped a record of $4,300, gaining almost $1,000 to its rate one week ago.