'Ferocious Rally': Weiss Ratings Bullish on Bitcoin, Price to Hit $70K Next Year

Weiss Ratings has outlined key reasons why investors should be bullish about bitcoin, seeing a “ferocious rally” with the price of the cryptocurrency expected to hit $70,000 next year. In addition, the Federal Reserve’s massive money-printing and institutional investments into cryptocurrencies add to the bullishness.

Why Weiss Ratings Is Bullish on Bitcoin

Weiss Ratings analysts Bruce Ng and Juan Villaverde explained last week why investors should be bullish about bitcoin despite some sideways consolidations. Weiss Ratings currently ranks bitcoin first among all cryptocurrencies overall. One of the three key reasons why the analysts are bullish about bitcoin stems from a price prediction based on the stock-to-flow analysis (S2F). The popular forecasting model “now points to a ferocious rally over the next 12 months or so,” they wrote. Read More...

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