A leap forward in the ranking
Bitcoin often remained out of the top ten of Weiss Ratings’ special ranking, receiving low ratings like for example “C+” in January 2018.
Only a month ago, bitcoin went from a “B-” to a “B” in the special ranking by the independent rating agency.
A breakdown of BTC’s current rating shows “A” and “B” for technology/adoption and risk/return respectively. These two votes in particular, allow bitcoin to overtake all the other cryptocurrencies considered in the ranking.
A letter from Martin D. Weiss, founder of Weiss Ratings, declares:
“After touching bottom in December, Bitcoin quadrupled in value in less than 190 days. And today, the reward it delivers investors outweighs the risks. Its technology has been upgraded. Its network is back to normal”.
Bitcoin’s rise to the top of Weiss’s ranking is in many ways a representation of the renaissance of the technology itself.
Upgrades such as SegWit have helped unlock the potential of the blockchain. At the beginning of the year, Weiss Ratings has also published numerous positive comments about BTC.
New ATH by the end of the year?
In January 2019, the independent rating agency predicted that bitcoin could reach a new all-time high by the end of the year.
After the significant drop in the hash rate in December 2018, the network’s computing power increased sharply and recently reached new record highs.
Even considering the price factor, BTC has more than tripled in the course of this year, with an increase of more than 230%.
The most optimistic estimates predict a new ATH between 28 thousand and 40 thousand dollars by the end of 2019, also due to the upcoming halving that will take place in mid-2020.