Weiss Bitcoin rating has been revised to A- grade. The leading crypto rating firm, Weiss, has once again acknowledged the prowess of Bitcoin and given it a leading A- rating marking it as excellent. The latest BTC rating lifts the coin from the earlier B rating.
#Bitcoin upgrade: The Weiss Crypto Rating for #BTC is now A- (excellent), thanks to improving fundamentals and positive price action ahead of Bitcoin's next halving.https://t.co/vyb8wxympt
— Weiss Crypto (@WeissCrypto) February 7, 2020
So, what could be the possible cause behind the improved Weiss Bitcoin rating? Well, the firm says that BTC fundamentals have improved lately, and the run-up prices have mainly been positive. The crypto industry has always taken the Weiss Bitcoin rating pretty seriously, and this does mark an important milestone in the coin’s financial journey.
Weiss Bitcoin rating signifies the rising BTC graph
Weiss is a leading financial analysis firm with a proven track record in the economic realm. The latest Weiss Bitcoin rating, marking it as an excellent asset class, signifies the growing confidence financial analysis firms today place in the cryptocurrency. The upcoming Bitcoin halving has had a positive effect on the price.
Although Weiss has stepped into the crypto sphere reasonably recently, it has more than five decades of experience in the financial sector. It offers myriad analysis services and financial tools for the institutions as well as individual investors. Today, it provides paid services for a range of crypto investment tools besides just a plain BTC rating. The firm offers reports on crypto-asset risks, market sentiments, digital asset investment opportunities, and much more. No wonder that the latest Weiss Bitcoin rating will be taken seriously by the crypto community.
Weiss Bitcoin rating upgrade comes courtesy of upcoming halving
Weis states that the price action has been largely positive in anticipation of the forthcoming halving in BTC. However, there is a contrarian group of investors that do not pay much attention to the Weiss’s ratings. They believe the agency doesn’t have an extensive cryptocurrency experience. The firm faced adverse litigation in 2006 when it was alleged that the firm deployed unethical practices for ratings.
Rating agencies have always faced criticism from the investor community. For example, the ratings issued by the Ministry of Industry and Information Technology of China aren’t trustworthy since they aren’t transparent. Today, social media fuels buying and selling frenzies. So, let’s see what impact does Weiss Bitcoin rating has on the BTC price action.
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