Weiss Cryptocurrency Ratings Will Be Released Tomorrow.
A buddy of mine has just alerted me to something very interesting. Tomorrow (January 24th), Weiss will be releasing a report on their ratings for some of the world's top cryptocurrencies.
Their website states that:
Weiss Ratings, the nation’s leading independent rating agency of financial institutions, will issue letter grades on cryptocurrencies, including Bitcoin, Ethereum, Ripple, Bitcoin Cash, Cardano, NEM, Litecoin, Stellar, EOS, IOTA, Dash, NEO, TRON, Monero, Bitcoin Gold and many others.
It doesn't give us the full list of "others", but it will certainly be interesting to see how the names above do.
How will the ratings be applied? The site says that:
They are based on a groundbreaking model that analyzes thousands of data points on each coin’s technology, usage, and trading patterns.
What that could mean exactly, we'll have to wait and see. But I wonder what effect this could have on the market?
I posted earlier that Bitcoin may be nearing the end of the correction, but could a good rating from Weiss (a company I know little about to be entirely honest) give Bitcoin a boost?
I wouldn't like to speculate any further to be honest, but I'm very interested to see how the ratings affect any of the top names (If at all of course)!
I've signed up, and will be eagerly awaiting the email from them tomorrow to find out.
If you want to see what they've got to say? Here's the link to the website: http://finance.weissratings.com/crypto/
See also this video from CNBC: Martin Weiss, Weiss Ratings founder, discusses how to determine letter grades for cryptocurrencies like bitcoin.
Thanks for viewing!
Hopefully I haven't over quoted, don't really want a visit from Cheetah.