Weiss Ratings Ranks Bitcoin A-, Another Bull Run Incoming?
Weiss Ratings, a highly reputed American investment data provider established in 1971, has given Bitcoin (BTC), the world’s flagship cryptocurrency an A- (excellent) rating ahead of the Bitcoin halving event scheduled for May this year. Weiss Ratings says Bitcoin’s improving fundamentals coupled with its positive price movement makes it an excellent investment vehicle, according to a tweet on February 7, 2020.
Bitcoin Gets A- from Weiss Ratings
While 2019 was a decent year for bitcoin (BTC) in terms of price movement, as compared to the crypto winter of 2018 when the price of bitcoin crashed to nearly $5k, it appears 2020 may just be the year of another bitcoin moonshot if recent developments are anything to go by.
In the latest development, Weiss ratings, a heavyweight research firm that claims to be focused on providing investors with highly accurate data to enable them to make informed investment decisions, has given Bitcoin an A- rating, categorizing the king of blockchain-based crypto as an excellent investment vehicle.
Weiss Ratings revealed via a tweet that it decided to rank BTC an A- due to a number of great factors, including the digital currency’s strong fundamentals and positive price action ahead of the much-anticipated bitcoin halving event.
Bitcoin Twitter React
Interestingly, Weiss Ratings’ tweet has been met with mixed reactions, with some crypto enthusiasts labeling the organization as a total joke.
Twitter user @cisco_gdz tweeted:
As reported by BTCManager earlier in November 2019, Weiss Ratings received quite a heavy bashing from a section of the cryptoverse for saying that Cardanao (ADA) is clearly superior to EOS (EOS).
However, despite the mixed reactions, one thing that remains certain is that the upcoming Bitcoin halving event which will slash the rate at which new bitcoins are mined by 50 percent, i.e from the current 12.5 BTC per block to 6.5 coins; will significantly boost the price of Bitcoin.
The price of Bitcoin (BTC) succeeded in touching and surpassing the $10k price region during the weekend. However, at press time, the price of Bitcoin has crashed to $9,795 and it remains to be seen whether the previous surge to $10k was just a flash in the pan.