April 17th, 2019 at 12:58 pm // News
Bitcoin Cash’s hard fork led to the formation of two new cryptocurrencies, namely Bitcoin SV and Bitcoin ABC. However, the latter has more support than the first. The flagship crypto exchange by trading volume Binance has dropped this coin from trading on their platform, ShapeShift is planning the same.
Now the chains of BCH and BSV have been used to tackle the backlash of the war between Craig Steven Wright (a person who claims to be Nakamoto Satoshi – being the true founder of Bitcoin) and the general crypto community.
BSV / USD price
BSV got off to a bad start this week and came with the price decline of around 33.7% last week. The crypto hit a new annual low of around $ 54.92 (-13.71%) on April 16 with a market capitalization (MC) of $ 983.59 million.
The weekly decline cut the Bitcoin Satoshi Vision MC about $ 481 million, making it the most bearish crypto asset in the entire cryptocurrency index. The crypto in question plunged into the overvalued area, as evidenced by daily analysis of the Relative Strength Index (RSI). At 30-RSI, the altcoin was just a small sell order that wasn’t brooding in a very bearish direction.
It popped large quantities in convoy, which showed that bears were discarding the crypto. The event caused the crypto asset to move towards a new low in 2019.
#DelistBSV response is increasing
As previously mentioned, the cause of the price drop is allegedly related to the removal of the asset from the flagship crypto exchange effective Monday April 22nd, according to Binance CEO, CZ, if Craig continues to claim he is the real Nakamoto, in this case he will do something strange – remove the BSV from the list. CZ revealed that what Craig is doing is submerging and demoting the crypto community. He said:
Masterpiece! You have my full support, Peter.
To be clear, I’m not picking sides on technology. We leave that to the market. I am against cheating, such as lying to be someone. Therefore I firmly believe that:
Craig Wright is a fraud. https://t.co/f9ihSD6Pr3
– CZ Binance (@cz_binance) April 15, 2019
The campaign to remove BSV from the Binance platform has gained momentum, with various people including ShapeShift CEO Erik Voorhees, Peter McCormack and others voicing their concerns – the removal of BSV. They all said they will delete BSV from their trading platforms.
We stand by the views of @binance and CZ. We decided to remove Bitcoin SV #BSV from @ShapeShift_io within 48 hours.
– Erik Voorhees (@ErikVoorhees) April 15, 2019
No need to fight
At the time of writing, BitFinex, Huobi, Kraken, and Bittrex are the only major digital forex exchanges that offer BSV trading. However, if things stay that way, the price of Bitcoin SV could continue to fall. Even so, the Kraken crypto exchange came out to warn users about BSV:
“Warning: Bitcoin SV does not meet Kraken’s standard listing criteria. This is an extremely risky investment. There are many alarming signals that are worth paying attention to. ”
Of course, it is very bad to see sister cryptos fighting without a doubt. So there will be no winner in this war, the fact is that some will lose less than others.