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In a development that is fair to say that few have seen come, bitcoin sv – the cryptocurrency introduced through the last bitcoin cash forex last month – is now worth more than the token cash bitcoin itself.
CCN reported yesterday that a "flippening" between the two cryptocurrencies seems to be coming, as the price of BSV has steadily gained on BCH just as the broader crypted market has collapsed – and the price of the bitcoin has crashed into a new one annual minimum.
On Kraken, who gained notoriety for his warnings about the dangers of holding the "risky" BSV token, bitcoin sv rose to $ 107, fixing it at $ 6 over the bitcoin money. Overall, BSV now has a market capitalization of $ 1.827 billion, with an extremely light margin compared to BCH $ 1.88 billion.
It is not yet clear what is causing the BSV rally and the sell-off of the BCHs, since the latter maintains more support between cryptographic exchanges and other infrastructure providers. However, unverified items The cryptic giant Bitmain lost hundreds of millions of dollars last quarter and could weigh on BCH, as the company is one of the biggest supporters of the currency and is said to be one of the largest holders of BCH in the world.
In addition, the billionaire gambling magnate and CoinGeek founder Calvin Ayre – along with other deep-pocket BSV supporters – could provide BSV with buying support to avoid suffering under the weight of the # 39; current sell-off, as well as continued to extract BSV even when it is significantly less profitable than bitcoin (BTC) and BCH. However, just like the rumors about Bitmain's financial status, this remains pure speculation.
There is also the ever-present possibility that traders are engaged in a BCH / BSV pump-and-dump, which would quickly become apparent if the progress is reversed in the coming days.
In any case, CCN will continue to provide coverage and analysis of the ongoing war between BCH and BSV and it will be possible to monitor the cash price of bitcoins in real time.
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