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Crypto Market Turns Green with Bitcoin SV Taking the Spotlight

January 11, 2020 at 1:38 by Matt Jackson

Bitcoin has made a decisive move, retaking the $8,000 resistance mark. Prices have continued to push to $8,200, as the world’s largest cryptocurrency continues to try and retake the $8,450 level that it experienced on January 8th. BTC did fall below $8,000 on January 9th but has seen sustained increases over the course of the day, today, and looks set to push further. Optimistic traders have suggested that a parabolic price movement could now be on the cards.

The rest of the crypto market also returned profits against the dollar, with the controversial Bitcoin SV fork taking the plaudits thanks to a nearly 50% price gain on the day. Bitcoin SV has now overtaken Litecoin in market capitalization, although this could change as prices continue to fluctuate.

Bitcoin SV is a fork of Bitcoin Cash, which is itself a fork of Bitcoin. Bitcoin SV founder, Craig Wright, has made claims that he is the original Bitcoin inventor, Satoshi Nakamoto. Wright’s legal team posted documents that could prove he was a part of the original team that created Bitcoin, and lending further credence to his claim that he is Satoshi himself.

A year ago, Bitcoin SV was priced at $76.15. It peaked on June 23rd last year, with an all time high of $243. However, by the start of the year, the coin’s prices had fallen to $97. Since then, prices had steadily increased until they saw a massive 47% spike today, reaching $175.

Bitcoin SV saw the greatest gains of the top coins, but all major coins showed a profit over 24 hours. Bitcoin Cash itself saw more than 13% in price gains, while Litecoin and EOS posted increases of more than 8%.

At 01:15 GMT, Bitcoin (BTC) is changing hands at $8,175.98, having seen its price increase 3.81%. Ethereum (ETH) and Ripple (XRP) prices have increased 4.19% and 4.2% to $143.98 and $0.212 respectively. Bitcoin Cash (BCH) is up 13.36% at $271.16 and Bitcoin SV (BSV) is up 47.42% and changing hands at $174.23.

If you have any questions and comments on Bitcoin today, use the form below to reply.

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