Weiss Ratings Says It’s Time to Buy Bitcoin (BTC) Now

The price of Bitcoin (BTC) has dropped significantly from it’s all-time high of nearly $20,000 back in December. In fact, the price has dropped so much that many people in the crypto community never thought we’d see these prices again.

At the height of the parabolic bull run of 2017, people wished and begged for lower prices to buy in at. Well, it looks like their wishes came true as the price of Bitcoin is hovering around $3500, that’s an astonishing 83% decrease from it’s all-time high.

Bitcoin Bottom Predictions

Throughout the entire 2018 bear market which we’re still experiencing, crypto community members everywhere have been predicting the Bitcoin bottom. From crypto influencers on Twitter and YouTube, to fan boys and trolls on Reddit, even reputable high net-worth individuals covered in news publications and on TV have been calling the Bitcoin bottom.

However, the reality is most everyone was wrong. Bitcoin’s price action shows no mercy to these predictions as it continues to break through key support levels and find new lows. But how low can it really go?

Martin Weiss and his team of researchers from WeissCrytocurrencyRatings has recently weighed in on the potential Bitcoin bottom. As seen in a tweet from the firm, Weiss Ratings believes it’s a great time to buy Bitcoin as it creeps down towards $3000.

Weiss Ratings is a well-known research firm that provides research, data, and insights to investors and traders around the world. They cover the traditional stock markets including ETFs, mutual funds, banks, credit unions, insurance companies, and most recently cryptocurrencies.

The firm has the respect of investors and 46 years of experience rating a variety of financial assets in the investment and trading industry. Therefore, as Weiss Ratings just endorsed Bitcoin, saying it’s approaching the “best buying opportunity” and declaring that it’s “here to stay”, their words will weigh heavily among members in the crypto community.

Weiss Ratings on the Next Bitcoin Bull Run

In a recent discussion between Weiss and Dr. Bruce Ng, a respected educator in the field of Distributed Ledger Technology (DLT) and a lead analyst at Weiss Ratings, discussed thoughts on upcoming developments that could lead to the next bull run.

The primary topic at hand was about the upcoming launch of Bakkt, a digital asset exchange for institutional investors and primarily known for their launching of physically settled Bitcoin futures.

According to NG, he is very bullish on the launching of Bakkt and believes it will bring an influx of institutional capital into the markets that could lead to the next bull run.

It’s hard to imagine a scenario in which Bakkt will NOT open the floodgates for large institutions to buy crypto.  And the consequences are potentially far-reaching.

He later explained that projects like Bakkt could have substantial impacts on the maturing of the cryptocurrency market, making it a more attractive market for more institutions and investors to get involved.

Projects like Bakkt could enhance the liquidity, stability and overall size of crypto, helping to create a multi-trillion dollar global marketplace unlike any we’ve seen before.

Do you agree with Weiss Ratings that the Bitcoin bottom is near? Are you buying Bitcoin at these levels? Do you think Bakkt will lead to the next crypto bull run? Let us know in the comment section below.

5 Comments

  • Jean Vincent
    Posted December 13, 2018 1:59 pm 0Likes

    I think bitcoin’s bottom is zero. As an asset it has no intrinsic value and as a currency it is not practically usable for small transactions. Because transaction costs are very high due to a design requirement, the proof of work. Reducing transaction costs always results in weakening transaction security which is not acceptable. This is the cost of decentralized trust.

    Therefore bitcoin is neither an asset neither a good currency so it has no use outside of large cross border transactions.

    The problem for large transactions is that volatility is not acceptable, and because bitcoin value is not tied to any currency in any way out will remain very volatil.

    So in the end there is no hope to find a valid use for bitcoin other than illigal transactions, and even there volatility is too high.

    So the end game is a total loss.

    It’s unclear of any other blockchain based coin can ever solve these issues which are due to this algorithm design.

  • Matthe
    Posted December 13, 2018 5:45 pm 0Likes

    wow! You always think in problems and not in solutions? Lightning network will tacle the scalability and high fee issues or other solutions will (like all new problems that go with new innovations). Volatility is part of low adoption. High adoption = automatically low volatility. This is the readon that BTC has a lower volatility than lower cap coins. You are just like the people that thought that the internet would not scale or that the loudy stinking inefficient car would never replace the horse. Or you ate not honoust because you work for a bank and see this as a disruptive risk.

  • Dustin Wynia
    Posted December 15, 2018 5:20 pm 0Likes

    Anyone who doesn’t see the future of cryptocurrency is either misinformed, wrong or a fool. Improvements and regulations will change everything! Does regulation defeat the very purpose of why Bitcoin was created? That is the question, but in the end money will determine its future, not ideals. Bitcoin is not going to zero. Sorry.

  • Richard Clayton
    Posted December 15, 2018 7:55 pm 0Likes

    I agree, its a big bag of bollocks.

  • MrJones
    Posted 4 days ago 3:34 am 0Likes

    Looking back at bitcoins past bear runs, I think the bottom price will between $1500 – $3500. I sold at $15000 previously and have been buying again in $2000 drop increments since the price fell to $6000. I think the next bull run will take us to $60,000 before a 50%- 85% correction again, eventually institutional investors will make these corrections less severe. Developing nations/people who are governed by corrupt governments will ensure Bitcoin thrives. I’m very pessimistic regarding 95% of the other coins out there and feel that eventually they’ll fall away. There’s only room for two or 3 players which will be digital collectable versions of for example Platinum, Gold and Silver. In the distant future bitcoin will be $1,000,000 + per coin, probably when the great grandchildren arrive.

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