Bitcoin (BTC) Forks Are Killing It with Bitcoin SV (BSV) Price Spiking 32 Percent

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  • Bitcoin (BTC) is lagging behind its controversial forks that are currently leading the latest crypto market rally

Bitcoin (BTC) Forks Are Killing It with Bitcoin SV (BSV) Price Spiking 32 Percent
Contents

Bitcoin Cash (BCH) and Bitcoin SV (BSV), the two highly contentious Bitcoin (BTC) forks, are up by more than eight percent and 32 percent respectively, which easily allowed them to end up among the best-gaining cryptocurrencies. BSV is greatly outperforming every other cryptocurrency in the top 100, reaching an intraday high of $153.59.  

Bitcoin SV
image by coinstats.app

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Bitcoin SV proves it's a trading anomaly 

BSV is no stranger to extremely volatile price moves. In fact, its recent rally pales in comparison to some crazy moves it witnessed in 2019. On May 21, 2019, Craig Wright's favorite coin recorded a 90 percent gain, which coincided with the U.S. Copyright Office allegedly recognizing the nChain scientist as Satoshi Nakamoto (which meant absolutely nothing). 

On May 30, 2019, BSV recorded similar gains because of fake news about Binance CEO Changpeng Zhao admitting that Wright is the real creator of Bitcoin.

Ironically, because of the most recent pump, Bitcoin SV managed to surpass Binance Coin (BNB) by market capitalization. However, the fork is currently very far from Wright's ridiculous target of $1,200.   

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Bitcoin trails behind its forks 

Notably, the crypto king is currently lagging behind pretty much every major coin in the market. This inevitably took a toll on its dominance that slipped to 68.22 percent, which was well above the 69 percent level on Jan. 8.       

Bitcoin rose by a modest 1.63 percent, currently changing hands at $8,032 after two days of bleeding.    

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.