Bitcoin SV continues to collapse in the midst of the radiation trend: Bitcoin cash cashiers are celebrating

by



[ad_1]

The recent Bitcoin SV clash (BSV) began when cryptocurrency advocates filed a lawsuit against crypto community figures who openly spoke out against BSV and his brain, Craig Wright – widely considered a quack who constantly claims that he is the real Satoshi Nakamoto.

BSV, which has recently been removed from the world's largest cryptocurrency swap list, Binance, was also removed from the list by other major exchanges and found itself trapped in a crisis that has 'spiraled to set new lows of the year. .

Bitcoin Cash the big winner of BSV Imbroglio

This recent drop in prices and the growing trend of major stock exchanges to withdraw from the BSV list – although devastating for those invested in cryptocurrency – have been very positive for Bitcoin Cash, which has recorded decent price gains since the Bitcoin SV cancellation of Binance.

Bitcoin Cash – which suffered a heavy fork at the end of 2018, which led to the creation of BSV – went from a weekly minimum of USD 260 to almost USD 330, before settling at its current price of 318. , 80 USD.

Bitcoin SV, on the other hand, has fallen over the past few days and is currently trading more than 12% at its current price of $ 55. BSV fell after peaking at $ 85 Wednesday, its highest level in a week.

Although Bitcoin Cash can benefit directly from Bitcoin SV's backtracking, analysts expect it to suffer a further drop in the near term.

Cryptomist, a popular cryptocurrency analyst on Twitter, shared his thoughts on BCH's next move, noting that a bearish division of its RSI index could indicate that another disadvantage is imminent, despite its recent vigor.

"$ BCH This has been one of my biggest winners in the last two months! I would not like fomo in ATM, we have a double top on candles and bear div on RSI. We are expecting a small retracement, "she said.

Bitcoin SV can continue to dive as other exchanges fall apart

The recent fall of BSV is directly related to Binance's choice to remove it from its platform – a decision that has led other exchanges to do the same.

Shortly after the announcement of this announcement by Binance, Erik Voorhees, CEO of ShapeShift, a crypto-currency issuer, tweeted that his exchange would also remove the BSV list from their platform.

"We are supportive of @binance and the feelings of CZ. We decided to remove the #SBS bitcoin from @ShapeShift_io within 48 hours, "he noted accurately.

Blockchain.com also announced that it would withdraw BSV by May 15 at the latest.

"In the next thirty days, we'll even stop supporting #BSV transactions. To use #BSV, go elsewhere! "Explains Peter Smith, CEO and co-founder of Blockchain.com, in a tweet.

The latest cryptocurrency exchange to announce their removal from the BSV list is Kraken, who recently tweeted that "people have spoken," adding that they would announce the write-off of Bitcoin SV, marking another blow for cryptocurrency.

As more and more exchanges get into the band and remove Bitcoin SV from the list, it is highly likely that Bitcoin Cash will continue to reap the benefits of success and that significant additional gains will be achieved in a near future. to come up.

Selected image of Shutterstock.



[ad_2]

Source link