During the last year, Bitcoin (BTC) has been in a bear market that affected the whole market. Several virtual currencies have lost more than 95% of their value while others were not able to keep operating. However, Bitcoin has also been affected. Since its all-time high in December 2017, it lost more than 80% of its price.
Nevertheless, Weiss Ratings, the independent rating agency that rates virtual currencies, wrote a tweet in which they say that this is the best moment to buy Bitcoin during the year.
Weiss Ratings Says Bitcoin is Becoming a Good Buying Opportunity
Although Bitcoin is not recovering from the last bear trend, there are some analysts that believe that it is a good time to purchase Bitcoin (BTC). In a recent tweet, the company that rates virtual currencies and other companies said that Bitcoin is here to stay.
On the mater, Weiss Ratings wrote:
“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.”
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#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.
— Weiss Ratings (@WeissRatings) December 11, 2018
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There are many experts currently talking about Bitcoin’s future and the bear market that is affecting the whole industry. However, there are bullish comments being made by firms and individuals.
Weiss Ratings provides research, data and information about stock markets, ETFs, insurance companies and also cryptocurrencies. With its trajectory in the space, Weiss Ratings gained a space in the crypto market and their analyses are taken very seriously in the industry.
In the near future, there are many things that could start a new bull market in the space. For example, in January, the Intercontinental Exchange (ICE) is expected to launch the so-called Bakkt platform and allow institutional investors to enter the market. This would clearly allow new funds to purchase virtual currencies and have a substantial impact on the market.
Furthermore, the U.S. Securities and Exchange Commission could also approve the first ever cryptocurrency exchange-traded fund (ETF) in February. If that happens, one of the most important regulatory agencies in the world would be legitimizing Bitcoin as an established investment asset.
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