Home>EXCHANGES>Bitcoin SV Goes Parabolic, Flippens Bitcoin Cash
EXCHANGES

Bitcoin SV Goes Parabolic, Flippens Bitcoin Cash



Bitcoin SV (BSV) is now the fourth biggest asset by market capitalization, taking the spot of Bitcoin Cash (BCH). After months of flexing, and promising something big for early 2020, BSV finally delivers – at least for now, a spectacular 300% weekly pump.

Doubles Price Overnight
In just one day, Bitcoin SV doubled its price and broke all price records, both in terms of Satoshi prices, and dollar value. BSV reached $337.61 just as all coins were wildly expanding, and bitcoin led the rally.
But something else may be at work for BSV to be able to defy all logic and stand out after months of sliding prices. One of the reasons is a favorable court decision for Dr. Craig S. Wright, who after all did not have to pay back thousands of BTC to the estate of David Klein. Wright did not manage to prove he is Satoshi Nakamoto, but the news added to the BSV effect.

The Craig Wright, Ira Klieman Case turned in favor of Craig, the Judge is dropping the partnership sanctions in the event the Courier Arrives by Feb 3rd 2020. #BSV #BitcoinSVAnd guess what? Craig already submitted new documents that could possibly prove the couriers arrival! pic.twitter.com/DHiB5NHbit
— ɯɹoʇsuoı (@ionstorm) January 10, 2020

BSV made news by taking over Binance Coin (BNB), and later decisively rising above EOS. Now, BSV has taken over its arch-enemy BCH. But the real ambition may be to challenge BTC.
While the crypto community dissed BSV, and Binance and Kraken even went on to delist the coin, the project built a large grass-roots community. With a year in conference participation and community building, BSV attracted enough supporters that were hungry for a pump.

You cannot be serious.
MY RIBS ARE HURTING.
😂😂😂😂😂😂😂😂😂😂😂🤣#BSV pic.twitter.com/0U5KGxPYPi
— Matt (@Peckham27) January 14, 2020

At this point, it is only natural skeptics may be waiting for the crash after the epic pump. But BSV is also one of the first coins to rally so hard after two years of a deepening altcoin bear market.
Bitcoin SV Caused Trading Panic as Buyers, Sellers Rush for Perceived Profits
The sharp move of BSV also caused an event not seen for months in the crypto space – Coinbase freezing up as traders attempted to FOMO in, or sell their coins for a fast profit. The event recalls a previous BCH pump for Bitcoin Cash, which boosted the price only to see it unravel hours later.

Congratulations #BSV you just bankrupted Coinbase 😂😂😂 pic.twitter.com/r4dUxR8IgB
— TBall (@tballpdx) January 14, 2020

If history is to be trusted, no fork of BTC has managed to go anywhere near flippening the coin. Despite spectacular pumps, the energy behind those coins dissipates. BSV also only saw volumes around $1.5 billion per day, rising to about $5.5 billion during the pump.
This is just a fraction of the BTC volumes, which easily reached above $41 million. But BSV has an underdeveloped futures market, instead relying on spot speculation. The 58% share of Tether (USDT) trading is now leveling up the price of BSV, with a much more direct effect. The current rally relies on huge OKEx volumes, with more activity supplied by innovative exchanges like BiKi, Bibox, and older markets like Huobi Global. The pump is unevenly distributed, with smaller, low-volume exchanges still sporting vastly different prices.
Heightened Asian interest in BSV only helps to fuel the fires, as the asset rose along with other altcoins. But it’s anyone’s guess who supports this expansion, and whether the price would survive attempts at selling, or direct trading attacks.
What do you think about the BSV pump? Share your thoughts in the comments section below!

Images via Shutterstock, Twitter @$SirToshiTV @Peckham27 @ionstorm The post appeared first on Bitcoinist.com.

 

source: https://bitcoinist.com/bitcoin-sv-goes-parabolic-flippens-bitcoin-cash/

TheBitcoinNews.com is here for you 24/7 to keep you informed on everything crypto. Like what we do? Tip us some BAT

Send Tip now!

Post source: Bitcoin SV Goes Parabolic, Flippens Bitcoin Cash

More Bitcoin News and Cryptocurrency News on TheBitcoinNews.com





  • Bitcoin
  • Ethereum
  • Bitcoin cash
  • Litecoin
  • Cardano
  • Dash
  • Stellar
  • Ethereum classic
  • Lisk
  • Tron
  • Neo
  • Qtum
  • Omisego
  • Binance coin
  • Zcash
Scan to Donate Bitcoin to 1J6PGL1oemFb3hxabLygq4WgWx8cbfji1r

Please help us if you can with some Bitcoin

Scan the QR code or copy the address below into your wallet to send some Bitcoin

Scan to Donate Ethereum to 0xA8E701dd11280a98e8F2e0A14064AC829E32D50F

Please help us if you can with some Ethereum

Scan the QR code or copy the address below into your wallet to send some Ethereum

Scan to Donate Bitcoin cash to qrth4e0g93h3gpxex8ycwuxtsa332tha5qvkmlz0g5

Please help us if you can with some Bitcoin cash

Scan the QR code or copy the address below into your wallet to send some Bitcoin cash

Scan to Donate Litecoin to LTxxjySMDtERJhHYJ99UFW9AamAWTwCAZ4

Please help us if you can with some Litecoin

Scan the QR code or copy the address below into your wallet to send some Litecoin

Scan to Donate Cardano to DdzFFzCqrhsopoZLhbouUwh2NvvWMPeFrXQW9vNNpPKrjKbRGyLRN5joJgCeZ6e1MRHtPHeLffpkNpQs5AdDA8qFCZ4gA9bYtaerNQTk

Please help us if you can with some Cardano

Scan the QR code or copy the address below into your wallet to send some Cardano

Scan to Donate Dash to XmAdEHrwiVZJVkAxe8hK5U6HZB59L5yhmK

Please help us if you can with some Dash

Scan the QR code or copy the address below into your wallet to send some Dash

Scan to Donate Stellar to GD4KROE42HPOMT7BT6M27HHLFCOSIXPYY2V3WSCX5FYEWRJDIJQ4RWFT

Please help us if you can with some Stellar

Scan the QR code or copy the address below into your wallet to send some Stellar

Scan to Donate Ethereum classic to 0x5BF3fCAC8deA20CF21C9D0D9d058E00EEfc431Ae

Please help us if you can with some Ethereum classic

Scan the QR code or copy the address below into your wallet to send some Ethereum classic

Scan to Donate Lisk to 15642042552518336132L

Please help us if you can with some Lisk

Scan the QR code or copy the address below into your wallet to send some Lisk

Scan to Donate Tron to TYnAenRiV6BsTiE6FVyAcDDxZtBKUQTFxN

Please help us if you can with some Tron

Scan the QR code or copy the address below into your wallet to send some Tron

Scan to Donate Neo to ATiXRHVqYqrNktbxJfcDETfnrSUWSG4cPb

Please help us if you can with some Neo

Scan the QR code or copy the address below into your wallet to send some Neo

Scan to Donate Qtum to QUYXxY6kX7TY2HSLwVYMwFaJNZLwvX5uyp

Please help us if you can with some Qtum

Scan the QR code or copy the address below into your wallet to send some Qtum

Scan to Donate Omisego to 0xA8E701dd11280a98e8F2e0A14064AC829E32D50F

Please help us if you can with some Omisego

Scan the QR code or copy the address below into your wallet to send some Omisego

Scan to Donate Binance coin to 0xA8E701dd11280a98e8F2e0A14064AC829E32D50F

Please help us if you can with some Binance coin

Scan the QR code or copy the address below into your wallet to send some Binance coin

Scan to Donate Zcash to t1cBCyKgSSqWaNrkpvQZUSTuxMmAbbAyFpZ

Please help us if you can with some Zcash

Scan the QR code or copy the address below into your wallet to send some Zcash



Source link

Review Overview

Summary