Nearly halved, Wechsler Ratings raises Bitcoin rating to A-

U.S. investment data vendor Webster Ratings rated Bitcoin (BTC) as "excellent" due to its strong price performance, which the site rated it as A-.

Bitcoin upgrades as fundamentals improve

Wechsler Ratings tweeted on February 7th:

"Wechsler Cryptocurrencies now rate Bitcoin as A- (Excellent), thanks to improved fundamentals and price increases before Bitcoin's next halving."

Previously, in late March 2019, Webster Ratings placed Bitcoin outside of XRP and EOS, ranking it as the best cryptocurrency with a combination of applications and technology. Because XRP and EOS were downgraded due to centralization, and they were B- and C, respectively, and now the level of Bitcoin is higher than these two assets. XRP's current rating is also lower than March's rating A.

In contrast, as one of the friendliest countries in the global blockchain, China also regularly publishes its own cryptocurrency ratings, namely, a technology working group supported by the Chinese state, the Center for Information and Industrial Development (CCID). The latest rating released at the end of September last year ranked Bitcoin 11th.

At the same time, CCID put EOS first, Tron (TRX) second, and Ethereum (ETH) third. XRP, on the other hand, ranks twentieth.

The importance of halving Bitcoin

Webster's rating underscores the importance of the upcoming Bitcoin halving event, which means that new Bitcoin production will be reduced by 50%. Miners who provide protection for the blockchain will receive new bitcoins as compensation for each new block created, confirming that the number of new bitcoins per block will soon fall from 12.5 to 6.25.

In the future, creating new blocks will only be compensated for transaction fees, and no new Bitcoins will be created.

According to Cointelegraph's report yesterday, Coinbase, a major U.S. cryptocurrency exchange, recently stated that halving Bitcoin will bring it (price) closer to digital gold. The company states:

"With countless technological advantages, accelerated development, and an increasingly mature global market, Bitcoin has become a value store that can rival gold in the digital age."

According to a report earlier today, bitcoin exceeded $ 10,000 for the first time this year. Starting from $ 7,227 in 2019, the price of bitcoin continued to rise until the current $ 10,140, ​​a 40% increase since the beginning of the year.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Market

Is CoinDesk selling at a loss with a valuation of $125 million after being in business for ten years?

On the occasion of its tenth anniversary and after being held by DCG Group for eight years, CoinDesk, the cryptocurre...

Blockchain

IMF urges Philippine central bank to collect crypto exchange transaction data and use data for macroeconomic analysis

According to Cointelegraph reported on January 2, the International Monetary Fund (IMF) urged the Philippine Central ...

Blockchain

Will FTX liquidating $3.4 billion worth of crypto assets become the main culprit behind the market crash?

For FTX's legal team, this week will be a busy one as they seek regulatory approval to liquidate $3.4 billion worth o...

Blockchain

Bakkt also can't impact traditional cryptocurrency futures trading? - Coin, OKex, Matcha, and the same station

Text | Mutual Chain Pulse · Liang Shan Hua Rong Mutual chain pulse: Although Bakkt has not been able to detonate...

Blockchain

Inside story How FTX stays up all night to prevent a $1 billion cryptocurrency theft case

On the same day FTX announced bankruptcy, someone began stealing hundreds of millions of dollars from its vault. An i...

DeFi

FTX Drama: Scandals, Shocks, and a Crypto Crash!

Sam Bankman-Fried's fashion reputation takes a hit as Caroline Ellison's testimony proves unfavorable.