Weiss Ratings Backtracked On Ethereum (ETH) And Bitcoin (BTC) Prediction After Criticisms

Italian Cryptocurrency Exchange, BitGrail shuts down almost immediately after it re-opened

As previously seen on smartereum.com, Weiss Ratings is an agency that is well known for is financial forecasts, even though they haven’t always been right about their predictions in the past. Their most recent prediction by the firm claims that Bitcoin (BTC) will lose 50 percent of its market share and it would go to Litecoin (LTC) instead. Nevertheless, after experiencing so many criticisms across the whole digital currency industry, they have backtracked their statement.

The Early Phases of Weiss Ratings

When Weiss Ratings first emerged, they were ready to take on the digital currency space. With a series of ratings about blockchain projects, the firm was able to achieve their goal of getting some positive attention from the digital currency community. Since the firm seemed to act as if all publicity was a good thing, they’ve continued to release more predictions with a high level of confidence.

SEE ALSO:   Ripple can be the dark horse cryptocurrency of 2018: Ripple Price Predictions - XRP Price Today - Fri Oct 19

Weiss Ratings Twitter Post

According to the post from their official account, Weiss said that: “Bitcoin (BTC) will lose 50 percent share to Ethereum (ETH) within the next five years, as a result of it offering more uses and being backed by superior blockchain technology. Weiss also referred to Bitcoin (BTC) as a one-trick pony.

The boldness of Weiss calling Bitcoin (BTC) a “one-trick pony” is actually surprising. The ‘trick’ the firm is referring to is the fact that they’ve been able to maintain censorship-resistant and decentralized cryptocurrency.

Weiss Ratings Agency Retracts Its Prediction

Once the firm was called out and criticized for the errors their post on Twitter, they went back to Twitter and posted a new tweet, saying “in five years they see Ethereum-like platforms dominating the crypto market, not necessarily Ethereum (ETH). Adding that it is hard to predict which blockchain project would dominate the market, but they believe the flexibility and usefulness of Ethereum (ETH) will be the standard.” The firm concluded by apologizing for not being clear on their earlier post.

SEE ALSO:   Bitcoin real time price: What is Bitcoin worth? Bitcoin Price Today USD - Latest Price Chart Analysis and Bitcoin Price Prediction 2020 - Bitcoin Price News Today - Fri Oct 19


LEAVE A REPLY

Please enter your comment!
Please enter your name here

seventeen + ten =

This site uses Akismet to reduce spam. Learn how your comment data is processed.