Bitcoin and its forks have routinely managed to make news in the cryptocurrency space multiple times with Bitcoin Cash and Bitcoin SV going at each other in the cryptosphere as well as in the social media space. Just recently, Calvin Ayre, the infamous founder of Coingeek, tweeted in support of BSV by saying:
“BSV is best if it just stays steady and lets the ecosystem build. there is no need for big price fluctuations now. However, the token is the most undervalued of all since it actually has real utility value and the others are manipulated into vapor value.”
Ayre has always made it a point to boost BSV’s value in the Twitter universe and is usually backed by nChain chief scientist Craig Wright. Ayre’s comments came in the wake of Bitcoin SV holding at $112.757 after growing on Bittrex at a rate of 19.51 percent. At press time, Bitcoin SV was in the 9th position trading for $109.45. BSV had a market cap of $1.95 billion and a 24-hour market volume of $599.27 million. BSV was the single largest gainer in the top 10 club, with a 13.81 percent growth in the 24-hour timeframe.
BSV’s growth on the charts was thanks to upright spikes in value, shooting up from less than $100 to the $112 mark in the space of a couple of hours. Some users in the space were confident of SV’s performance with ‘spillthebeans’ commenting:
“What race? Bsv is the winner already what’s the point to argue.”
Looking at the charts, it is apparent that Bitcoin SV (BSV) has broken right below the short -term accelerated trendline as the cryptocurrency now trades at $108. Short term support is formed at $107 while the upside is limited at $114. The sudden increase in value has caused the cryptocurrency’s trading volume to increase by 44 percent to settle at $541 million, a stark rise from its earlier hold of $303 million.
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