Weiss Ratings founder: Bitcoin halving will once again set off a crypto craze

Author: Liang Che

Source: bitpush.news

Editor’s note: This article has been edited without changing the author’s original intent.

The block reward halving of Bitcoin, the largest cryptocurrency by market value, will take place in two weeks, and Martin Weiss, founder of crypto asset rating agency Weiss Ratings, believes this will once again drive the cryptocurrency market higher.

Weiss said in a recent conversation with Gavin Magor, the company's head of ratings,

“This event will quickly trigger a massive crypto frenzy, pushing the price of Bitcoin and other outstanding tokens to all-time highs. This event is written into the code and cannot be stopped by any government, organization or individual. Every time a halving has occurred before, it has triggered a long-term crypto bull market and created a lot of wealth for investors.”

He pointed out that if someone bought Bitcoin during the last halving, his assets would have increased by 30 times. If other assets were purchased, the value would have increased even more, such as Litecoin, which increased by 80 times, Ethereum, which increased by 124 times, NEM, which increased by 200 times, and XRP, which increased by 560 times.

Weiss believes that this shows that although the cryptocurrency market will continue to rise, it is still very important to decide which cryptocurrencies to buy and when to buy and sell. According to Weiss Ratings, investors can decide which cryptocurrencies are worth buying, and its newly launched Crypto TIMING Model will help investors decide when to buy and sell.

He also responded to Warren Buffett’s comment that Bitcoin is “rat poison” during the conversation. Weiss said,

“Back in 2000, most people, including Buffett himself, said the same thing about Internet stocks because they didn’t understand the Internet. Although Internet stocks suffered a big drop at that time, the Internet itself never collapsed. It just kept developing and was faster and more secure than ever. The same is true in the cryptocurrency field today. Although the market crashed in 2018, the technology itself is still developing. Cryptocurrency is now faster, more secure, more accessible and more widely used than ever before.”

In his view, the more important point is that cryptocurrencies are not just a new type of currency, they are the core of efficient and secure technology that will eventually replace the Internet as we know it today and will directly compete with some larger industries, such as banks and stock markets.

Weiss mentioned,

“You can borrow money directly from a lender or lend directly to a borrower without going through a bank. You can buy stocks directly from a seller or sell stocks directly to a buyer without going through a broker. These are revolutionary, and the industry is growing so fast that the value of cryptocurrencies will rise so high that the rise of Apple and Google will seem insignificant by comparison.”

He said that some banks and investment institutions have already entered the cryptocurrency market, and after the halving, a large amount of new funds will follow.

For individual investors, Weiss recommends staying away from some of the lower-rated cryptocurrencies and investing strictly in the best cryptocurrencies, such as Bitcoin and Ethereum.

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Disclaimer: All articles on Bitpush only represent the author's views and do not constitute investment advice. Investment is risky and the consequences are at your own risk.