Analyst at Weiss Ratings claims they can point out a reason that strongly suggests the price of Bitcoin in 2021 can reach $70,000.
Bitcoin, the worlds first cryptocurrency, will reach $70,000 analyst from Weiss Crypto Ratings claim. They explained their forecast relying on the model Stock-to-Flow (S2F). It represents the ratio between the total available supply of the asset and its annual growth.
‘Long-term investors need to study the weaknesses of this asset to determine an entry point and then hold on to it. In the long-term the perspectives couldn`t be more promising’, Weiss Crypto Ratings noted.
The analyst added, that according to the S2F model, Bitcoin should experience a spike in its price in the course of the next 12 months. The experts highlighted, that the price of the asset can influence the rise of its popularity among institutional investors, especially in the context of the developments in the world economy, related to the ever-increasing issues of dollars bills in the USA.
