Weiss Rating's Pessimistic Outlook on BTC Predicts a Fall to $4000 by xyzashu

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bitcoin · @xyzashu · (edited)
$64.93
Weiss Rating's Pessimistic Outlook on BTC Predicts a Fall to $4000
<center>https://cdn.pixabay.com/photo/2018/05/17/20/44/cryptocurrency-3409629_1280.jpg</center>

Since the beginning of this month, every one in cryptosphere got excited after a long time as Bitcoin rallied over $5000 and even crossed $5400 briefly.

This has given hope of a bull run after a prolonged bear phase.

But yesterday, reputed crypto and financial forecasting agency **Weiss Rating** signaled a pull back to $4000 level in Bitcoin prices. According to the agency, Bitcoin is overbought and according to its "model" a correction to $4000 will follow. However it didn't provide any detail of its supporting metrics or analysis for the basis of such a drop.

It just posted the [following tweet](https://twitter.com/WeissRatings/status/1116643409199022080):

<center>![Weiss Rating on BTC.png](https://ipfs.busy.org/ipfs/QmTh9aXKMEmnbk56Qok8L5bSB8tkug9kPh85rKpgzgW6dc)
</center>    

<h1>Should we sell STEEM at this point?</h1>

Going by this prediction, we should sell our STEEM (or BTC or any alt coin for that matter) now and buy back when its prices drop further. Wouldn't it be wise thing to do?

If you ask me, I ain't gonna sell STEEM. It's a risky business to sell at this level and wait for a drop based on a prediction. However reputed the Weiss Rating Agency be, I don't have a strong faith in their forecasts.

Do you remember a little over 6 months back when they predicted that Bitcoin will lose 50% of its market share to Ethereum in five years' period. But when it drew a lot of flak in the crypto industry, it retracted on its words and rephrased it to " ETH like cryptocurrencies" that will overpower the market and mentioned apologies for being unclear about its prediction & statement.

Comparing Ethereum with Bitcoin, they even termed Bitcoin as a one-trick pony. Now these are strongly unacceptable words. 

So how can we trust such loosely worded statements!

It's better to avoid even prestigious names in the field when it comes to our money and our crypto. No one knows our crypto assets & projects better than us or our community. I feel majority of crypto community doesn't have a clear idea about the strengths and fundamentals of STEEM. One who knows and understands it shouldn't miss the train.

Keep Steeming!
👍  , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , and 75 others
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@sems42 · 
i agree with you!
👍  ,
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@chesatochi ·
$0.02
Nobody knows what is going to happen!

Posted using [Partiko Android](https://partiko.app/referral/chesatochi)
👍  
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@xyzashu · 
Very true. In the beginning of this year, Weiss Rating had said that BTC will head for new all time high in 2019.
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@cryptoandcoffee ·
$0.02
It's always risky selling and waiting for it to drop.At least on Steem you shouldn't be worrying about the prices and just trying to gather as many coins as possible.Personally I hope they are right as it is easier to grow when the prices are down.
👍  
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@xyzashu · 
Thanks for your advice! I'm always afraid to short anything and never did it so far.
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@cryptoandcoffee · 
I agree this stuff is so unpredictable and volatile. I would hate to see someone sell and it goes the other way.
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@tts · 
To listen to the audio version of this article click on the play image.
[![](https://s18.postimg.org/51o0kpijd/play200x46.png)](http://ec2-52-72-169-104.compute-1.amazonaws.com/xyzashu__weiss-rating-s-pessimistic-outlook-on-btc-predicts-a-fall-to-usd4000.mp3)
Brought to you by [@tts](https://steemit.com/tts/@tts/introduction). If you find it useful please consider upvoting this reply.
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@amar-patel ·
$0.02
In Crypto World always believe on your own analysis..This type of media stories could be manipulated one..Last year we have seen that how coinmarketcap excluded data of certain exchange .

As far as small investor is concern, i would say believe on technology do not be too much greedy..take advantage of bull market sell certain amount of asset to see some profit on table.
👍  
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@xyzashu · 
Yes, you're right ...only if I knew how to analyze these assets! &#128521;
👍  
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@amar-patel ·
$0.02
If some one have 100 eggs then there is nothing wrong to take risk with 10 eggs..when you trade with 10 eggs do with margin trading..set minimum loss limit and upper profit limit. If you loose then it will be minimum and if you make profit then it will be maximum. this way you can take 100/10=10 Risk.. you know better than me ...what will be the probiblity factor.

Keep some investment on safe side for long term and do the experiment if in worst case..you long term investment will recover it..As we know crypto have very bright future as major portion of population of world does not know about it. just imagine what if everybody got know about Bitcoin.
👍  
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@steem-plus ·
SteemPlus upvote
Hi, @xyzashu!

You just got a **0.48%** upvote from SteemPlus!
To get higher upvotes, earn more SteemPlus Points (SPP). On your Steemit wallet, check your SPP balance and click on "How to earn SPP?" to find out all the ways to earn.
If you're not using SteemPlus yet, please check our last posts in [here](https://steemit.com/@steem-plus) to see the many ways in which SteemPlus can improve your Steem experience on Steemit and Busy.
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@steem-ua · 
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Your **UA** account score is currently 3.936 which ranks you at **#4162** across all Steem accounts.
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@ocdb ·
re-xyzashu-weiss-rating-s-pessimistic-outlook-on-btc-predicts-a-fall-to-usd4000-20190416t145035750z
You got a 63.51% upvote from @ocdb courtesy of @xyzashu! :)

@ocdb is a non-profit bidbot for whitelisted Steemians, current max bid is 45 SBD and the equivalent amount in STEEM.
Check our website https://thegoodwhales.io/ for the whitelist, queue and delegation info. Join our [Discord channel for more information.](https://discord.gg/k2Hu77b)


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