Wiess Cryptocurrency Ratings Come Out TOMORROW!
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.
In the long run it might be good for crypto to have ratings, but I can't help thinking that come 2pm the market is going to react to the ratings with pumps and dumps.
It is a shame that most crypto investors are so unsophisticated when it comes to investment and they won't realise that Weiss are bit shady themselves and have in the past been accused of taking cash for ratings.
Yeah, I'm wondering the same thing. Apparently a list of ratings has already leaked, but whether they're true or not remains to be seen.
It wouldn't surprise me if they were shady! My first reaction to hearing about the ratings was;
"Ratings? What like the ratings they were using before the 2008 crash?"
Anyway, we'll see! Could be fun. :-)
Thanks so much for the update, I knew that this was happening but I did not know when. I agree with you that it is too early to speculate on specific outcomes for the release of the ratings, i.e. if it will help BTC rebound, but I do think that overall it will have a beneficial effect. In the UK there is an standard rating system called the ISO and pretty much every product has endeavours to attain their endorsement, I feel that eventually this ranking will have a similar effect as an ISO certificate, i.e. it will give people a level of confidence in a coin/token/technology and anything that brings confidence into the space, and aids stability and sustainability, is a good thing in my book. Thanks again. Cheers J
Thank you very much for your comment @jeffbowen!
I think ISO is used pretty widely? I'm sure I've come across that term before... But yes! You're absolutely right, I just hope we're not holding anything that gets a poor rating. :-D
I am sure that you won't be, but thats a great point.....I had better go and check what I have and get rid of some of my bigger mistakes :) Cheers J
very good post
Thank you @syavash :-)
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