In the last 7 days, there has been slight changes in the market trend and the assets that are enjoying much favor especially in the top ten ladder are altcoins
Altcoins has been performing quite better than Bitcoin in the past one week, hence signaling a change in market bullish trend.
Similarly, Weiss crypto rating noted that there has been a change in the direction of the bullish sentiment in the market. Weiss said since 2017, when Bitcoin and the entire market peaked, Bitcoin had been recording the highest daily sentiments.
Nevertheless, the table seems to be turning around as the bullish sentiment looks to be spilling over into XRP, Ethereum and Litecoin.
This may be signaling a trial time for Bitcoin and a revolution –The Altseason, right at the time that enthusiasts and investors are expecting a bullish cycle in the market owing to the just concluded halving event. Weis further stated that nonetheless, the crowd is always wrong.
#Bitcoin recorded its highest daily sentiment score since 2017. Now, it looks like this bullish sentiment is spilling over into #Ethereum, #XRP, and #Litecoin… right on time for a cycle high. The crowd is always wrong. Always late to the party.
— Weiss Crypto Ratings (@WeissCrypto) May 22, 2020
According to Coincodex, Bitcoin has lost about 5% of its value against the US Dollars in the last seven days while the likes Ethereum, Bitcoin SV, Binance (BNB) Coin, and Tezos continues to display addition in value.
Among the top 10 coins, Bitcoin is the largest loser in the last one week, and it is priced $9,153 at press time.
Halving Made Bitcoin Less Secure
Expectations are rife for Bitcoin halving. Most are of the opinion that the cut in miner’s reward would bring Bitcoin more greatness in various perspectives. However, a number of experts in the industry have downplayed the event, claiming the event is not a special one and less significant to Bitcoin blockchain network.
Weiss Rating also joined the train. The crypto rating platform which claims to be unbiased said in contrast to what people conceive, the halving event does not make Bitcoin network extra secure.
Weiss said just like Litecoin, Bitcoin’s network is now even less secure than it used to be before the halving event.
Halving has made a number of blockchain network less secure, Weiss averred, concluding that Litecoin also witnessed the same effect after the halving of LTC.
Contrary to popular opinion, halving does not necessarily make the network more secure. Right now, #BTC is slightly less secure than it was prior to #halving. Last year #LTC became LESS secure – for a time – as a result of halving.
— Weiss Crypto Ratings (@WeissCrypto) May 21, 2020
In another statement, Weiss said it sees no need for halving in Bitcoin or any other blockchain network.
