Even though it has been surprisingly quiet on the Bitcoin SV front lately, the project is still ongoing. Following some fresh gains, the Bitcoin SV price has now surpassed the $60 mark once again. A very interesting development, especially when considering how all other top markets are still under a lot of bearish pressure right now.
Despite successfully rivaling Bitcoin Cash at one point, it is quite evident Bitcoin SV has lost most of its traction in rather quick succession. This was somewhat to be expected, albeit few people knew the gap between BCH and BSV would grow this wide in quick succession. Clawing back some of these losses will remain an ongoing struggle. However, there is some positive momentum brewing.
Over the past 24 hours, the Bitcoin SV price has gained some lost value. The 4.2% increase brings the price back to just over $64, which is pretty interesting. There is also a 6.1% gain on Bitcoin, which is what one would expect to see from altcoins during an extended bear market. Sustaining this trend will prove to be very difficult, though.
As has been the case for some time now, there is plenty of social media activity pertaining to Bitcoin SV. Kurt Wuckert Jr not only shares a viable message but also a great image to go along with it. While images like these won’t necessarily score a lot of brownie points with the cryptocurrency community, it is still a remarkable piece of art in its own way.
Bitbot is convinced Bitcoin SV is the “truth” machine which will enforce transparency and accountability. Those are some very big claims to live up to for this particular project. Having Bitcoin in the name alone won’t necessarily warrant government adoption now or in the future. There is plenty of work waiting to be done in this regard.
Jereme Tayamen contemplates whether or not there is another potential Coinbase “controversy” shaping up behind the scenes. He is wondering if the company is liquidating its own BSV position prior to releasing the coins to the clients. It is a bit odd how the company still hasn’t issued these coins to its rightful owners at this stage. That delay isn’t uncommon for Coinbase whatsoever, though.
As is always the case in the cryptocurrency world, everything depends on Bitcoin’s momentum first and foremost. Right now, the Bitcoin price continues to get hammered first and foremost, which doesn’t bode well for any altcoins or tokens on the market. How that will affect BSV over the coming days, remains to be determined. Anything is possible in this industry.
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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