As Bitcoin sinks to lows that were nearly unimaginable just months ago, some experts and enthusiasts are taking to social media to tell the crypto community members that are still ha I gotta on to load up on more of the digital asset. Some of these opinions carry more weight than others and words coming from Martin Weiss and WeissCryptocurrencyRatings tend to be rather heavy.
Martin Weiss and his research firm have been known for their “Weiss Ratings” for years, and a lot of investors rely on their information when it comes to buying stocks and investing in mutual funds and ETFs.
With Bitcoin creeping down near $3000 USD Weiss Ratings just gave BTC a strong endorsement and said it’s a great time to buy. @WeissRatings tweeted, “#BTC is getting to such low levels that it’s becoming one of the best buying opportunities of the year. As a store of value, #Bitcoin is here to stay. We truly think it’s the least speculative investment a person can make in #crypto right now.”
This latest endorsement of Bitcoin by Weiss Ratings shouldn’t come as too much of a surprise because the firm has been speaking highly of the cryptocurrency sector for a while.
Weiss Ratings has placed its belief in a bull run on developments that are coming in the near future such as possible US congressional actions and the launch of Bakkt. Just last week a discussion between Martin Weiss and Dr. Bruce Ng was published and they went over this very topic.
“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,” Ng said.
He went on to explain that projects like Bakkt “could greatly enhance the liquidity, stability and overall size of crypto, helping to create a multi-trillion dollar global marketplace unlike any we’ve seen before.”
As new financial projects like Bakkt enter the cryptocurrency space, with more and more real-world use cases and applications being developed, it seems like a wise bet that the market will recover to new highs in the future.
Disclaimer: This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.