Renowned cryptocurrency exploration platform, Weiss Ratings, has again denied Bitcoin (BTC) a good commentary after the platform came out on Twitter to say the king of cryptocurrencies has failed as a currency, but performing in speculation arena.
Weiss Ratings pressed further that Bitcoin being used as speculation tool is not its fault, however, the rating platform stylishly pushed for XRP.
Weiss for some times now has been advising the cryptocurrency community to turn their back on Bitcoin, canvassing for XRP as a worthy crypto to invest in.
Weiss Ratings recently has been dancing to the tune of XRP community. Not long, it suggested that Binance add XRP as the base currency. The cryptocurrency rating platform also maintained that XRP is really fast in exchange for fiat currency.
Many a number of analysts see Weiss Ratings as being balanced in crypto analysis, however, the rating platform has received myriads of condemnations from far and wide for its rigid stands in some instances.
Weiss Ratings appears controversial on many occasions. Few days back, the platform said Bitcoin Cash is a worthless coin with no competitive advantage against BTC than the name, saying once the name is gone, BCH has no value to show.
While Weiss Ratings generates numerous rebuttal, the cryptocurrency rating platform remains undaunted in its analyses, observations without minding whose hoax is goosed afterward.
The cryptocurrency ecosystem has been so dependent on BTC that some coins are largely influenced by Bitcoin value surge. However, this has been a point of condemnation from different angles that some coins cannot stand alone.
When the price of Bitcoin rises, it is normal for other coins to turn green, while the downward trend of BTC is likely to pull them into red zone until it regains consciousness with value rise.
Why Cryptocurrency Adoption Is Necessary
Security and Exchange Commission has again rejected 9 Bitcoin ETFs. Cryptocurrency experts like Vitalik Buterrin have posited that cryptocurrency price stability will be perfected when stores accept crypto and not when Bitcoin ETFs are approved by SEC.