At a time when prices are crashing against the USD and investors are selling-off, Weiss Ratings, one of the best asset rating platforms in the world, has said that BTC is the most sound cryptocurrency investment. While this might seem absurd at surface value, it might actually be the truth. The establishment believes that the fall in price gives investors and opportunity to buy and hold. The tweet that was published by the official handle of Weiss Ratings was as follows:
“BTC has presented a perfect buying opportunity. Bitcoin is here to stay as a store of value. We believe it is the least speculative cryptocurrency investment anyone can make right now.”
For more than four decades, Weiss Ratings has provided market analysis and research for businesses and consumers. However, this is the first time it is being bullish about Bitcoin and this says something. In January, the agency gave BTC a C+. This was when the price was better than what it currently is. After studying the market trend for 12 months, it decided to loud BTC.
Bitcoin (BTC) Price Today – BTC / USD
Is Weiss Ratings Right About BTC?
The fact that the rating agency says this is the best time to buy shows that it believes that the price of BTC will rise eventually. So, those who buy in the dip will make huge profit when the bulls finally take over the market. This is typically how people feel during a bear market but some other experts believe that the market is currently too brutal for buying.
From trading as high as $19,500 almost one year ago, Bitcoin has fallen as low as $3200. What’s more, the decline seems to be continuous with no hope of recovery short term. It’s going to take an extremely bold investor to pour money into the market at this time. If the agency is correct, whoever buys in now will benefit later. Otherwise, that person should be ready to suffer losses. It’s important to note that anything can happen in the cryptocurrency industry. So, no one will be surprised if a bull run starts from nowhere and prices start soaring against the USD.
Bitcoin (BTC) Price Analysis
At the time of writing, BTC was trading at $3,305.28. This shows that it is down by 3.82% against the USD with a trading volume of $4,391,492,332 and a market capitalization of $57,585,848,288.