Weiss Cryptocurrency Ratings' private message to subscribers today told investors their ratings released last week included this week's red tide in the cryptocurrency market.
Weiss 'I told you so' responseThis week, the market first got smacked with the Coincheck hack, the largest in cryptocurrency history (in U.S. dollar terms). Then it got slammed with the Tether dilemma.Crypto markets tanked.
Market cap, which started the week at around $600 billion, plunged to just above $400 billion this morning
Weiss Cryptocurrency Ratings said: "NOW do you see why NO cryptocurrency got an A in our inaugural ratings release last week?NOW does it make more sense why Bitcoin got a C+?NOW do you understand why the industry's outrage against our ratings was, in itself, a telltale sign of more troubles ahead?You see, from the outset, all of the risks evident in the market today have been factored into our Risk Index. But the good news is that much of the greed and hype is getting cleansed from the market even as we speak..."
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Until next time everyone!! Cheers