In Weiss Ratings, they named the reason why in 2021 the cost of the first cryptocurrency will reach $ 70,000.
Bitcoin will rise in price to $ 70,000 by the middleNext year, Weiss Crypto Ratings analysts are sure. They explained their assumption by the Stock-to-Flow (S2F) model. It is calculated as the ratio of the total available supply of the asset and its annual growth.
“Long-term investors should study weaknessesthis asset to find entry points and hold it. The long-term outlook could hardly look more exciting,” Weiss Crypto Ratings noted.
Analysts added that according to the S2F model,Bitcoin should rise in price over the next 12 months. Experts also emphasized that the value of an asset can be affected by the growth of its popularity among institutional investors and the unstable situation in the world economy associated with an increase in the rate of issue of US dollars.
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