As Bitcoin plummets to lows that were almost unthinkable just a few months ago, some experts and enthusiasts are advising members of the crypto community to buy the coin now. Some opinions of such experts are valued more, others less. The advice from Martin Weiss and his agency WeissCryptocurrencyRatings tends to be quite insightful.
Martin Weiss and his research firm are known for their Weiss Ratings, which many investors rely on when it comes to buying stocks and investing in mutual funds and ETFs.
With Bitcoin falling to almost $3,000, Weiss Ratings tweeted out that now is the time to buy BTC:
BTC has reached such low levels that it is worth buying it is now one of the most profitable opportunities of the entire year. We truly believe that this is the smallest speculative investment a person can make in cryptocurrency right now.
This recent endorsement of Bitcoin by Weiss Ratings should not come as a surprise, as the firm has long been positive about the cryptocurrency sector. Weiss Ratings believes that a bull market will emerge in response to possible action by the US Congress in the near future and the launch of the Bakkt platform. Just last week a discussion was published between Martin Weiss and Dr. Bruce Eng. The latter stated unequivocally:
It is difficult to imagine a scenario in which Bakkt does not open the floodgates for large institutions to purchase cryptocurrency. And the consequences could be very favorable in the future.
He went on to explain that projects like Bakkt could significantly increase the liquidity, stability and overall volume of cryptocurrencies, helping to create a multi-trillion dollar global market.
As new financial projects enter the crypto space and more and more viable use cases for cryptocurrencies emerge, it is worth betting that the market will recover to new highs in the future.
According to zycrypto.com
You May Also Like
Cryptocurrencies could outperform traditional asset classes in 2019
With stock markets and other asset markets experiencing bearish trends, some believe cryptocurrencies have a chance to be the top performing asset next year.
First regulated Bitcoin fund opens in Canada
First Block Capital recently announced that the FBC Bitcoin Trust, available to accredited investors, has achieved mutual trust status as it is now also available on the NEO Connect platform.
