- Weiss Cryptocurrency rating platform recently predicted that bitcoin could trade near $180,000 if it can capture only a third of the Safehaven business from gold.
- But how could this happen?
The well respected Weiss Cryptocurrency rating platform has recently predicted that bitcoin could trade near $180,000 if the leading cryptocurrency can capture only a third of the Safehaven business from gold. That price figure is currently 20 times what the leading crypto is currently worth but the platform has said that this could happen within the next decade. But how could this happen?
Weiss believes that demand is what will drive the price of BTC to such a height. Take a look at the tweets from last week below:Weiss Crypto Ratings@WeissCrypto
If #Bitcoin captures only a third of gold’s safe-haven business, it’s going to trade near $180,000 — roughly a 20-fold increase from present levels. This could happen as early as this decade.872:55 AM – Jun 20, 2020Twitter Ads info and privacy34 people are talking about this
But to reach this price range, less volatility would significantly be needed in order to increase the demand for bitcoin which would help build up his reputation as a store of value asset.
According to the rating company, they say that investors have a somewhat culture of buying bitcoin when the price drops which is a big reason as to why the price is currently going through a stagnated period.
But even with this, the COVID-19 pandemic goes to show that investors are starting to trust and realise the potential that the leading crypto coin has regardless of what the market price movement is.