The flagship cryptocurrency Bitcoin (BTC) has been upgraded to “A-” by Weiss Ratings on bullish performance.
Weiss said on its twitter account:
“The Weiss Crypto Rating for #BTC is now A- (excellent), thanks to improving fundamentals and positive price action ahead of Bitcoin’s next halving.”
In March 2019, the agency has considered Bitcoin, XRP and EOS as cryptocurrencies having the best combination of acceptance and technology.
Today, Bitcoin has a higher grade than XRP and EOS, with XRP remaining at ‘B-’ and EOS at ‘C’ after downgrade for centralization.
Meanwhile, the Center for Information and Industry Development (CCID) has placed EOS in the first rank, while putting Tron (TRX) and Ethereum (ETH) in the second and third spots, respectively. Bitcoin came 11th, followed by XRP.
Weiss stressed the significance of the next Bitcoin halving event which will take place in May.
Bitcoin Will Be Closer To Digital Gold Soon
Cryptolydian earlier reported that Coinbase has recently pushed the narrative of Bitcoin as the digital gold. In a series of tweets, it covered the main reasons why the halving and subsequent reduction in the supply rate will further assist this link.
As halving event of Bitcoin drawing ever closer in May, Coinbase has recently pushed the narrative of Bitcoin as the digital gold. In a series of tweets, it covered the main reasons why the halving and subsequent reduction in the supply rate will further assist this link.
Some analysts expected that the Bitcoin may hit $20,000 in the coming months, citing some technical factors.
Since reaching its lowest level of $6,400 in December, the BTC has skyrocketed to $9,900 earlier today.
In late 2019, crypto traders noticed similarities between the BTC performance in 2019 and that seen from 2017 to the end of 2018. During this period, there was a fakeout that failed to boost the upward trend. In addition, there was a downward triangle that broke down to push prices down.