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Bitcoin SV Price Spiked Up By 95% Again! Reasons And Perspectives Of BSV Discussed By Twitter Users

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Bitcoin SV Price Spiked Up By 95% Again! Reasons And Perspectives Of BSV Discussed By Twitter Users
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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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Contents

Bitcoin SV (BSV) has made a jump again! This time, it also decreased by 95% beating all records in its history. The crypto community is raving about the spike and yet wondering: what might happen next? Is there’s a chance for the third breakout? Find out what Twitter users think about it: read the reasons for such an enormous rise and BSV price predictions.

Reasons for the spike

So, what exactly pushed BSV to such an enormous height? Some users think it was the previous double bottom:

Indeed, the crash before rise was an epic one, and nobody would predict that BSV can recover so quickly and even get higher. The Binance delisting was fake news, which only added up to the hype around Bitcoin SV.What we saw was a clear price manipulation.

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Ironically, it made some people say Bitcoin SV is absolutely not worth anything. The words below express the opinion of many Bitcoin-only fans.

They had to change their opinion in a few hours, though haters gonna hate:

So, what’s next?

Bitcoin SV started drawing the attention of traders, and here and there, people started comparing it with Ethereum saying that the last one will be erased by BSV.

Here’s one more interesting suggestion about the future of Bitcoin SV and its possibilities:

Of course, retracement after such a legendary spike is natural and more than predictable:

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$44 dump is a relatively mild loss compared to what might have happened, or will happen in the following hours. It won’t come as a surprise if BSV falls below $200 in the following hours.

The main advice now is to sell BSV to make the profit, because the dump might be violent.

Bottom line

Seems like the current bull market is a lucky period for alts, especially Bitcoin forks. Look at the statistics:

It’s high time to sell your BSV because another spike might not happen. This time, it could have been the result of market manipulation and hype.

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About the author

Crypto writer, blockchain geek & Bitcoin holder with a strong belief in the power of cryptocurrency. Veronika combines in-depth analytical approach with creative writing to deliver the texts that both inform and entertain. With hundreds of reviews, SEO articles and marketing texts under the belt, she has experience of working for blockchain Medium channels, Cryptodiffer site and ICOs. Part of U.Today team since 2018, she focuses on crypto price predictions and monitors the market to provide the most relevant info & opinions.

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Reporting Illegal Crypto Fundraising Now Rewarded by Government Officials in China

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    Sharing information about illegal ICOs with Chinese authorities could result in a financial reward

Reporting Illegal Crypto Fundraising Now Rewarded by Government Officials in China
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Those who decide to snitch on initial coin offerings are now rewarded by local authorities in China. 

Sina Finance, one of the largest business newspapers in China, has recently reported that Chinese authorities are extending their clampdown on illegal cryptocurrency fundraising. 

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On Nov. 18, China’s financial regulators issued a letter to provincial and municipal government officials in order to prevent illegal fraudulent cases that involve the blockchain technology, claiming that it should be explored "scientifically and rationally." 

The aforementioned article reveals that Chinese citizens are encouraged to report all instances of illegal fundraising. Once their information gets checked and verified by relevant government authorities, they can get a reward from regulators.      

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As reported by U.Today, blockchain, the technology behind Bitcoin, is now in President Xi Jinping's good graces. It was tempting to assume that China was finally warming up to crypto, but the communist state made it clear that it didn't want to touch cryptocurrencies that is cannot control. 

China was the first to issue a ban on domestic ICOs back in September 2017, which was meant to prevent any losses that stem from engaging in questionable financial activities. The People's Bank of China (PBoC) insisted that 90 percent of all coin offerings were scams. 

 
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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an 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.

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