An Independant US based ratings agency has announced they will be issuing ratings for all major Cryptocurrencies in just 2 days, their website has a countdown clock for anyone wishing to keep track of when these ratings will be released.
Weiss Ratings, the nation’s leading independent rating agency of financial institutions, will issue letter grades on cryptocurrencies, including Bitcoin, Ethereum, Ripple, Bitcoin Cash, Cardano, NEM, Litecoin, Stellar, EOS, IOTA, Dash, NEO, TRON, Monero, Bitcoin Gold and many others.
“Many cryptocurrencies are murky, overhyped and vulnerable to crashes. The market desperately needs the clarity that only robust, impartial ratings can provide,” said Weiss Ratings founder, Martin D. Weiss, PhD. “We’re proud to be the first to bring that benefit to investors — to help them cut through the hype and identify the few truly solid cryptocurrencies. Our ratings are based on hard data and objective analysis. But they’re bound to create controversy, including some grades that may come as a surprise to some people.”
What will this mean for Cryptocurrency and Bitcoin, well in the short term it could go either way – however whether we like it or not mainstream investors do want in on some of the action, however many are being held back by lack of any kind of clarification on what Cryptocurrencies are viable investments. Companies such as Weiss produce extensive reports on all types of investments and for the first time they will be producing reports on Cryptocurrencies.
Day traders may want to keep an eye on the release of these first ratings which are due out on January 24th, 2018. I’m sure everyone else will be interested to see what the verdict is as well, regardless of whether their ratings are actually worth anything.
As soon as we receive a copy of the ratings we will publish them here at TBC.