Business 10 September 2018Erik Gibbs
EF Hutton implements crypto rankings, gives Bitcoin BCH 5 stars
EF Hutton, one of the oldest stock brokerages in the U.S., has begun to cover cryptocurrencies. This past week, it announced that it was going to start providing coverage of a number of different digital currencies, including Bitcoin BCH, Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Cardano (ADA) and Eos (EOS). The coverage is going to be accompanied by ratings of each offering and Bitcoin BCH is proving to be the winner everyone already knew it would be.
The financial giant gave Bitcoin BCH a rating of five stars. In an interview with news.bitcoin.com, Christopher Daniels, the CEO of EF Hutton, said, “Our rating on BCH is five stars. In our rating scale – 5-stars is the highest and best rating that can be assigned to an instrument. It means that we foresee significant appreciation within the next 12 months.”
EF Hutton will “also provide equity research coverage of companies involved in cryptocurrencies and other digital assets,” starting with Hut 8 Mining and Hive Blockchain Technologies. It added that the ratings scale is “one star to five stars with five-stars representing a positive outlook and one-star representing a negative outlook.”
In determining the individual rankings, Daniels explained, “EF Hutton evaluates each instrument separately and also in relation to its position vis-a-vis other cryptocurrencies.” He added, “We consider short, medium and long-term factors that will impact the price of the instrument, however our rating is based on our view of the instrument in the next 12-months.”
EF Hutton will first look at “the purpose for which the instrument was originated. We look for intrinsic purpose-driven of demand,” according to the CEO. Then, it will “look at how the instrument is positioned versus other instruments that may overlap with its originated purpose,” such as “technology and other factors that may give one instrument an advantage over another instrument.” Daniels offered, “A good example of this is BCH’s design to address some of BTC issues.”
Continuing to describe the ranking criteria, Daniels elaborated, “After we complete our instrument specific analysis we look to other issues that can impact the supply and demand equation. For example, liquidity. We consider the extent to which peculators attracted to the instrument and thereby add to the liquidity of the instrument.”
As was aptly pointed out by a Twitter user, Mudit Aggarwal, Bitcoin BCH continues to advance as a leading cryptocurrency. He said, “Another major breakthrough for Bitcoin Cash (BCH)..@efhuttononline has given a 5 ? rating to BCH. Seems like BCH adoption and reputation is only going to keep increasing…”
Bitcoin BCH is the only cryptocurrency that is still adhering to the original concept of what a digital currency is supposed to be—a user-friendly, peer-to-peer currency that could be used by anyone to pay for goods and services. While the other offerings have morphed into different variations that are not focusing on the advancement of crypto as a retail payment alternative, the developers and supporters of Bitcoin BCH realize that this is the only way to ensure the survival of crypto over the long term.
Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.
Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.
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