Bitcoin SV (BSV) experienced an awesome 51% surge on Wednesday to move into one of the top spots on CoinMarketCap’s rankings for the day. BSV’s trading volumes increased by over 877% in just twelve hours, while reaching a value of $520 million. Diving into the numbers, short sellers were met with quite a surprise as they liquidated over $3 million worth of BSV positions in a single day. This surge in Bitcoin SV BSV/USD corresponds with an overall rally in the crypto market, most notably as Bitcoin BTC/USD hovers around the $44,000 mark citing influences from MicroStrategy. CEO Michael Saylor and MicroStrategy recently acquired another 14,620 BTC for approximately $615.7 million illustrating a tremendous spike in investor confidence with SmartMoney thought-leader following suite. Taking it back, Bitcoin SV’s journey began with a hard-fork of Bitcoin Cash (BCH) in 2018 directed towards more thoroughly sticking to the original Satoshi Nakamoto white paper’s initiatives of how inheriting Bitcoin. Notwithstanding this previously momentous occurrence, the trust line was startingly revoked when Coinbase back in November chose to discontinue any form of support for Bitcoin SV. Nonetheless it appears who reinvesting in BSV has been an immensely beneficial action. Taking the risk and HODLing certainly paid off whilst predicting an encrypted future and placing support in favored coins.
Bitcoin SV (BSV) experienced an awesome 51% surge on Wednesday to move into one of the top spots on CoinMarketCap’s rankings for the day. BSV’s trading volumes increased by over 877% in just twelve hours, while reaching a value of $520 million.
Diving into the numbers, short sellers were met with quite a surprise as they liquidated over $3 million worth of BSV positions in a single day. This surge in Bitcoin SV BSV/USD corresponds with an overall rally in the crypto market, most notably as Bitcoin BTC/USD hovers around the $44,000 mark citing influences from MicroStrategy.
CEO Michael Saylor and MicroStrategy recently acquired another 14,620 BTC for approximately $615.7 million illustrating a tremendous spike in investor confidence with SmartMoney thought-leader following suite.
Taking it back, Bitcoin SV’s journey began with a hard-fork of Bitcoin Cash (BCH) in 2018 directed towards more thoroughly sticking to the original Satoshi Nakamoto white paper’s initiatives of how inheriting Bitcoin. Nonetheless, in November, Coinbase wilfully severed all support for Bitcoin SV due to contractual relationships.
However it seems those that have taken risk and HODLed have reaped great rewards. Betting on the encryption future is certainly paying dividends with plenty of investors confidently buying more favored coins.
