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Bitcoin rating upgraded to "A-" by Weiss Ratings: Easily surpasses $20,000 after halving

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Bitcoin rating upgraded to "A-" by Weiss Ratings: Easily surpasses $20,000 after halving

The well-known cryptocurrency rating agency Weiss Ratings recently made significant changes to its overall ratings, upgrading Ethereum and Bitcoin from "B+" to "A-", making these two major blockchains the highest-rated cryptocurrencies in the cryptocurrency market.

Table of Contents

  • Bitcoin is set to easily surpass 20,000 USD, top competitive coin investors will see higher returns
  • Weiss Ratings calls XTZ the most decentralized proof-of-stake project

According to their rating criteria, the explanations for each grade are as follows:

  • A: Excellent
  • B: Good
  • C: Fair
  • D: Weak
  • E: Very Weak
  • F: Failed or Fraud

Weiss Ratings announced on Twitter that due to improving fundamentals of Bitcoin and the positive upward trend before the block reward halving, they have upgraded it to A-.

Weiss further pointed out:

Bitcoin will surpass its 2019 high, confirming a new bull market that started in December 2018. However, a short-term price correction for Bitcoin should not come as a surprise.

Weiss also reiterated on their website that their historical halving trend model suggests that each halving event results in approximately a one-third decrease in the subsequent price surge, from a 29.6x spike in 2016 to an estimated 9.1x increase this time around.

Therefore, if Bitcoin remains at 10,000 USD before the halving, the model predicts the next peak to reach 91,000 USD.

Nevertheless, Weiss emphasized the limited historical samples for Bitcoin and cautioned that overly precise price predictions should be taken as reference only. They claimed that the halving phenomenon is just one indicator of an impending bull market, stating:

Our 20, 80, 240-day cycle model leads to similar conclusions, with the rapid development of distributed ledger technology indicating that the primary bull market cycle has begun. The widespread adoption of cryptocurrencies is accelerating, serving as a key driver of future demand.

In conclusion, we can confidently say that Bitcoin will easily surpass the 20,000 USD mark, and top competitive coin investors will see higher returns.

Twitter praises Tezos (XTZ)

In addition to upgrading Bitcoin's rating, Weiss Ratings posted multiple tweets on Twitter praising XTZ for its strong performance this year, rising over 50% in the past 5 weeks, significantly outperforming Bitcoin, and summarizing 4 key success factors:

  • High governance flexibility
  • Zero code errors
  • Decentralization
  • 5% staking return mechanism

Weiss emphasized that XTZ is currently the most decentralized project based on proof-of-stake mechanism and believes this is a key factor in XTZ's success as a smart contract platform in less than two years of operation.

However, Weiss mentioned the current pain point of XTZ, mainly its transaction speed of only 50 TPS (transactions per second), with seemingly no progress in resolving the issue.

Further Reading

  • Current trend? Weiss Ratings analysis results show a fixed pattern before the halving
  • "Principle" author: Bitcoin's volatility makes gold a hedge asset in economic downturns

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