Ethereum Surges on Weiss Ratings– Ethereum Ratings Better than Bitcoin
Jan, 25th 13:00
Weiss – the ratings firm has released its first “ratings” report on cryptocurrencies. The firm has judged Etherium better than Bitcoin.
The securities ratings agency announced Wednesday that it gave ethereum a B rating because it “benefits from more readily upgradable technology and better speed, despite some bottlenecks.”
Bitcoin received a “fair” C+ rating because the digital currency is “encountering major network bottlenecks, causing delays and high transactions costs,” according to a release. “Despite intense ongoing efforts that are achieving some initial success, Bitcoin has no immediate mechanism for promptly upgrading its software code.”
None of the 74 cryptocurrencies the agency covers received an “excellent” A rating. B-rated ethereum and digital currency EOS have the highest ratings.
Founder Martin Weiss nonetheless delivered a refreshingly bullish outlook for the future, commenting in an official release that “despite extreme price volatility, cryptocurrencies have a bright future and the potential to deliver unusually large profits to investors.”
On the technical charts, Ethereum is trading above all the moving averages (9day, 20 day, 50 day, 100 day and 200 day) and is currently in the positive zone. The RSI is at 53.56 and the MACD is below the signal line.
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