Bitcoin [BTC]: Weiss Ratings claims it predicted bull run; online community calls bluff

Weiss Crypto Ratings, the crypto-centric rankings giant, made headlines last week following its rankings of popular cryptocurrencies. It’s in the news again after its latest report claimed that Bitcoin’s bull-run was foretold by their analysts prior to the surge.

Since Bitcoin’s $5,000 breakout, crypto-research firms and analysts have been speculating over the surge’s possible  reasons. Weiss however, announced that they had predicted the “BTC bull run” a day prior. Weiss further added that it had passed on the information to its “premium subscribers.”

In a 2 April tweet, Weiss Ratings stated,

“Yesterday we informed our premium subscribers that the bear market was officially over on #Bitcoin. Today, it’s up 15+%. Score one for our model.”

Despite providing no hint or indication of the ‘prediction’ on its social media handles, Weiss continued to claim that their “model” predicted a massive 15 percent spike in Bitcoin prices, a daily gain not seen for over a year.

The rating giant also clarified that whale action did not precipitate the price surge, stating that their “proprietary model” did not highlight any BTC whale movements causing tremors in the collective market.

The tweet read,

“Some say #BTC surge is due to whale action. We predicted the upcoming bull run by using our proprietary model that analyzes price-time dynamics – it’s never about one whale moving the market. #Bitcoin #altcoins #”.

The twitter cryptocurrency community did not respond positively to the ratings giant’s claims, especially since it came after the price surged. Weiss also received backlash from some of its premium subscribers, with some saying that they weren’t informed of the rise.

A user, @wildrosescases, stated,

“I am a premium member and i dont get this news ..why is that ?”

Another user, @CryptoPeter, stated that “models” didn’t work in a market as volatile as the cryptocurrency market,

“Don’t brag yourself. Tomorrow can start another bear phase. Nothing is final in crypto”

Another user was quick to define “prediction” for Weiss Ratings, stating,

“What you have to is actually make the prediction before the price moves. Not say you knew it was going to happen after it has.”

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