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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.

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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Stablecoins Recognized by President of European Central Bank

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    After the President of the ECB Christine Lagarde recognized the demand for stablecoins, market players started commented on her words. Tuur Demeester is among the first!

Stablecoins Recognized By European Central Bank Head: Reaction
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Contents

Tuur Demeester, Founding Partner of Adamant Capital, published a Twitter video of the President of the European Central Bank (ECB) Christine Lagarde speaking publicly on the demand for stablecoins.

Entering the Business

Mr. Demeester, a Bitcoin (BTC) advocate who is well-known for his "Bitcoin Reformation" theory, commented on the words of Christine Lagarde about cryptocurrencies:

Looks like the ECB will be entering the stablecoin business

Thus, Mr. Demeester treated Ms. Lagarde's speech as a sign of political will by the ECB to implement stablecoins into EU monetary policy. 

However, the attention of his audience was drawn to another regulatory statement. While answering a journalist's question, Ms. Lagarde says that the ECB "only knows of one" stablecoin at the moment. This left commentators and the audience guessing, and whether she was referring to USDT,  Facebook's Libra, or the Central Bank Digital Currency (CBDC), the much-anticipated European state-backed stablecoin known.

Bitcoin Doesn't Have to Ask for Permission 

Christine Lagarde also spoke on developments in the "Bitcoin segment" with a suggestion of skepticism in her voice. This has not gone unnoticed. Anthony "Pomp" Pompiliano, Co-Founder and Partner at Morgan Creek Digital Assets, commented on the evaluation by the ECB President:

It should be noted that on December 12, 2019, the President of the ECB Christine Lagarde presented a new monetary policy for the EU. During her debut press conference, Ms. Lagarde said that in the stablecoins sphere, central banks better be in a position that was 'ahead of the curve'.

It should also be noted that billionaire investor Ray Dalio recently said that there will be much greater demand for stablecoins than Bitcoin.

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When will we see first European state-backed stablecoin? Share your thoughts with us on Twitter

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About the author

 Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockhain. Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

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