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Bitcoin SV Loses $300 Mln After #DELISTBSV Controversy Tanked Its Price. What Will Be Craig Wright's Next Move?


Bitcoin SV Loses $300 Mln After #DELISTBSV Controversy Tanked Its Price. What Will Be Craig Wright's Next Move?
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The price of Bitcoin SV has recently tanked almost 24 percent, becoming one of the worst-performing coins. As CNBC’s Ran NeuNer points Bitcoin SV’s market cap has dwindled by $300 mln due to the #DelistBSV controversy.

So far @CalvinAyre's threat to bankrupt @PeterMcCormack has cost BSV $300mn! I wonder who is bankrupting who here! pic.twitter.com/amRJ0MoFdM

— Ran NeuNer (@cryptomanran) April 16, 2019


The backlash against Craig Wright

If you happen to think that 2019 is going to be a borefest in the world of crypto, Dr. Craig S. Wright made everyone grab their popcorn and watch what happens next. As reported by U.Today, Wright threatened a Twitter user ‘Hodlonaut’ with a lawsuit after the latter called him a fraudster. However, these bullying tactics backfired with Binance being the first exchange to announce its decision to delist Wright’s Bitcoin SV.

Multiple cryptocurrency influencers joined the #DelistBSV campaign with Anthony Pompliano calling on all exchanges to ditch the controversial Bitcoin Cash fork by May 1. In the latest Twitter poll, which was published by San Francisco-based exchange Kraken, the majority of respondents voted in favor of delisting Bitcoin SV.

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Their side of the story

 The article that was published in Calvin Ayre-owned outlet CoinGeek claims that Binance got itself in legal trouble by going against Bitcoin SV. The number one exchange doesn’t provide any valid reasons for delisting the coin (apart from their personal dislike of Wright).

This decision will certainly be reported to regulators in Malta and other governing jurisdictions as this is surely a case of people in trusted positions abusing that trust and playing God with which token gets the most volume and market access. In essence, market manipulation,’ Ayre claims.

However, according to Binance CEO Changpeng Zhao, he has good/expensive lawyers, so it would be interesting to see how this legal battle unfolds.

Photo: ©Pexels

Cover image via u.today
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Bitcoin's April 2 Breakout Was Reportedly Orchestrated by One Trader


Bitcoin's April 2 Breakout Was Reportedly Orchestrated by One Trader
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It’s been over two weeks since Bitcoin’s astronomical surge on Apr. 2, but new theories about what might have caused this bullish uptick continue to pop up. According to crypto-oriented analytical firm CoinMetrics, that epic surge was causes by a single trader.

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Mammoth-size trades

CoinMetrics claims that ‘a single committed trader’ concocted a plan to push the BTC price, and he successfully managed to do that by picking the time of the day when the global liquidity is at its lowest level.


(Source: CoinMetrics.io)

(Source: CoinMetrics.io)  

The report also suggests that the trader started to execute his plan on HitBTC (500,000 USDT were traded for Bitcoin prior to the price movement). After that, large trades were observed on Coinbase and Bitfinex.      

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Focusing on the future

Meanwhile, as reported by U.Today, another theory states that the rapid price surge was triggered by the expiration of the CME futures contracts and heavy spot and over-the-counter buying. One expert went as far as claiming that a simple April joke about the Securities Exchange Commission (SEC) could do the trick.

While no one is quite sure about what could have triggered the short-living rally, there is even a bigger disconnect when it comes to Bitcoin price predictions. While some share their bullish predictions for 2019, another report states that it could take 22 years for Bitcoin in order to match its current ATH of $20,000.

Cover image via 123rf.com
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