Weiss Ratings Assigned A-grade to Bitcoin

News / 09.02.2020

The recent ranking by Weiss Ratings assigned an A-grade to Bitcoin (BTC) and rated the crypto “excellent.” The rating is because of its remarkable price performance.

Weiss Ratings published the rating on Twitter on February 7:

Last year, in March, Weiss Ratings rated BTC, XRP, and EOS as cryptos with the best combination of adoption and technology. However, BTC is now ahead of XRP and EOS. Both XRP and EOS were graded B- and C respectively, following a downgrade for centralization.

Besides, the Center for Information and Industry Development (CCID) backed by the government of China releases its cryptocurrency ratings periodically. CCID released ratings in September last year, putting BTC in the eleventh position. EOS, TRX, and ETH occupied the first second and third positions respectively. However, XRP occupied the twentieth position.

Weiss Ratings noted that the imminent Bitcoin halving event is essential. The compensation (new coins) offered to miners who secure the blockchain for every new block created will be halved.

In the future, when new blocks are created, transaction fees will be the compensation and there will be no more creation of new coins.

According Coinbase, halving will make BTC close to digital gold, based on many technological benefits, increasing development, and maturing international market.

BTC has been able to surge past $10k for the first time in 2020. The price of the crypto at the beginning of last year was $7,227 and it kept increasing consistently until it reached the current value of $10,140. The current price represents a 40 percent increment since the beginning of 2020.

 

Source: Cryptopress.

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Dacosta Osei-Tutu, a first degree holder in Nursing, who couples his Nursing career with blockchain blogging, has a great passion for the blockchain technology and aims to play a vital role in applying this revolutionary technology to disrupt the healthcare system in Africa.