Litecoin News Update
Independent financial ratings firms Weiss Ratings has just released its cryptocurrency ratings for 74 of the top cryptocurrencies. It is the very first time a ratings agency has graded cryptos. Spil expected, the ratings have turned out to be largely underwhelming.
Just to be clear, Weiss identifies cryptos with ratings of “A” and “B” spil good investments. Investors can interpret “A” and “B” grades spil being omschrijving to a “buy” rating. A “C” grade implies a fair investment and can be construed spil being omschrijving to a “hold” rating. A “D” rating and anything below that is a “sell” signal.
Here are a few takeaways from the Weiss cryptocurrency ratings report.
- No cryptocurrency scored an A. (No surprises there,Weiss had pre-warned.)
- Ethereum got the best rating at B. (Again, no surprises. Ethereum has a unique moat.)
- Only five cryptos got Bs, two of which are still ter their testing phase. (Totally astonished here!)
- Litecoin got a C+. (What?)
- The largest and most popular of all cryptocurrencies, Bitcoin, likewise scored a C+. (Stunned!)
- Bitcoin and Litecoin got hammered by two little-known cryptos, EOS and Steem, which scored B and B-, respectively. (Utterly shocked!)
The man running the vertoning, Martin Weiss, had pre-warned that the ratings would stir a controversy. He made good on that promise. The grades absolutely make no sense.
Just so you know, Weiss says the stiff has used rekentuig models to rate the cryptocurrencies on four metrics. Two of thesis are risk and prize, which define how volatile thesis cryptos are, and the other two are technology and fundamentals.
Technology determines the status of the crypto’s underlying code and fundamentals analyze attributes like its adoption rate, scalability and transaction fees.
Based on thesis metrics, it’s hard to fathom how Bitcoin or Litecoin be graded lower than the likes of EOS, Steem, Cardano, and NEO (the only four cryptos to receive a B, other than Ethereum). It just hammers mij.
Litecoin, for example, has bot much less volatile than thesis four cryptos. It is more widely recognized, has a much higher adoption rate, and is comparable te terms of technology.
Unnecessary to say, I’m taking thesis ratings with a grain of salt.
Bear te mind that the results come out on a day when cryptocurrencies are ultimately trading te the green. I’m almost certain that the ratings would have an effect on prices ter the brief term. Jumpy investors who lightly buy fear, uncertainty, and doubt may start to adjust their holdings following thesis ratings.
This could be a major misstep. Te the long run, fundamentals will hammer computer-generated letterteken grades.
Our belief te Litecoin is unshaken ter light of the Weiss ratings. Even if wij were to go by Weiss’ rating scale, the letterteken grade assigned to Litecoin indicates the investment is worth holding. Wij’re staying true to our original Litecoin price prediction with a $400.00 LTC price target for 2018.