In an impressive rally, Bitcoin SV is up over 60% almost setting a new all time high and currently trading at $102. The recent price spike comes due to news breaking out about Craig Wright being granted copyright registrations for the Bitcoin whitepaper and code.
In the press release published, Wright was granted two registrations from the Copyright office:
It’s important to note the process through which one can register a copyright for certain texts. One simply needs to fill out a form claiming ownership of the content, there is no validation in place.
The recent actions by Wright are certainly bold, and Bitcoin SV market’s reaction is appropriate. Currently BTCSV is trading at $103 on Huobi, earlier surpassing it’s all time high of $104 when it peaked to almost $200 on Huobi. Currently the price is relatively stable around the $100 level.
Bollinger Bands: The price is also within the upper and lower bands which are narrowing as the market is stabilizing. Currently the price is tracing closer to the upper band signifying that the bulls are still present.
At this point it seems that the market has stabilized after the announcement last night. At this point, unless some more news come forward volatility should be minimal. My personal prediction is a somewhat sideways market the next couple of days following Bitcoin’s momentum.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.
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