American provider of investment data Weiss Ratings has rated Bitcoin (BTC) as ‘excellent’ by awarding it an A-class due to its strong price performance.
Published in a tweet on February. 7, Weiss Ratings announced:
“The Weiss Crypto rating for #BTC is now A- (excellent), thanks to the improvement of the fundamentals and positive price promotions prior to the next halving of Bitcoin.”
Earlier, at the end of March 2019, Weiss Ratings placed Bitcoin aside XRP and EOS as cryptocurrencies that have the best combination of adoption and technology. Bitcoin now has a higher degree than both assets, with XRP on B and EOS on C after a downgrade for centralization. The current XRP rating is also lower than the A that was awarded in March.
For comparison: China – one of the most blockchain-friendly countries in the world – periodically issues its own cryptocurrency assessments, namely the state-supported technical working group of China, the Center for Information and Industry Development (CCID). The latest reviews published at the end of September place Bitcoin in eleventh place.
Meanwhile, the CCID places EOS in first place with Tron (TRX) second and Ethereum (ETH) third. XRP, on the other hand, is in 20th place.
Weiss Ratings emphasizes the importance of the upcoming Bitcoin halving event, which refers to the 50% reduction in the speed at which new coins are produced. Miners securing the blockchain will be compensated with new coins for every new block they create and soon the number of new Bitcoins made for each block will fall from 12.5 to 6.25 coins.
Further in the future, the creation of new blocks will only be compensated with the transaction costs and no more new coins will be made.
The large American cryptocurrency exchange Coinbase recently said that halving Bitcoin will bring digital gold closer. The company noted:
“Armed with countless technological advantages, faster development and a maturing world market, Bitcoin is a valuable store for gold in the digital age.”
As reported earlier today, Bitcoin has just broken $ 10,000 for the first time this year. After starting 2019 at $ 7,227, Bitcoin’s price consistently increased to the current value of $ 10,140, a 40% gain since the start of the year.