Bitcoin bull Ronnie Moas has raised his 2018 bitcoin price target to $11,000.
Moas, a respected market analyst at Standpoint Research, believes that recent announcements such as the introduction of bitcoin futures contracts by derivatives exchange operator CME Group will accelerate the pace of global bitcoin adoption ahead of his already-bullish target.
“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.