Lateral movement on Thursday
One day after the spectacular Bitcoin SV run, the situation at the crypto market calms down. Bitcoin is in a sideways movement on Thursday and BSV falls behind Bitcoin Cash again. We take a look at what happened today
Bitcoin in detail
Bitcoin is able to defend the price gains of the past few days for the time being and is currently trading at around 8700 USD. A 24 hour trading volume of over 30 billion USD shows the increased interest in the digital gold. Due to the strong performance of Bitcoin SV and Co. the Bitcoin Dominance Index drops to just under 66%.
Wal moves over 1 billion USD
The “Whale Alert” twitter account today reported a transaction of USD 1.1 billion. It didn’t take long for first users to suspect the Craigh Wright behind the transfer. Reports about the so-called “Tulip Trust III” caused the Bitcoin SV share price to skyrocket this week. In total, Wright is said to have assets of more than 1 million Bitcoin. The Wright transaction, however, was an ordinary hot wallet transfer from the Bitfinex exchange.
During the spectacular Bull Run, Bitcoin SV was able to fight its way up to 4th position in the crypto charts. Almost playfully the Bitcoin Fork shot past EOS, Litecoin, Tether and Bitcoin Cash. On Thursday BSV can defend fifth place after all. The coin is at a rate of 327 USD. The current market cap is approx. USD 5.8 billion.
Wright’s courier handed down list
It’s the top topic in cryptospace. The focus is on Bitcoin SV supporter Craig Wright and lots of question marks. Is the self-proclaimed Bitcoin inventor in possession of private keys worth billions? Yesterday, the lawyers for the Kleiman estate made the following statement: “Dr. Wright informs the court that a third party has provided the necessary information and keys to unlock the encrypted file, and Wright has presented a list of his Bitcoin holdings to plaintiffs today as ordered by the Magistrate Judge.” Promptly the Bitcoin SV price exploded as a result.
Total market capitalization
The total market capitalization climbs to a value of approximately USD 240 billion. This means that in the past few days, just under USD 50 billion has been pumped into the crypto market. Many investors are looking forward to the year 2020 with bullish expectations. The Bitcoin Halving Event, the Libra project and the GRAM launch could cause a lot of hype this year. In addition, people like Craig Wright are electrifying countless supporters. Price jumps of over 100% were a thing of the past until yesterday. This was not just any pump & dump coin, but a crypto currency from the top 10. The crypto market remains volatile and attracts investors with quick profits. On the other side, scams and other fraud systems are damaging the reputation of the blockchain world. For example, the analytics company Chainalysis tracked stolen Bitcoins worth USD 2.8 billion. Over 50% of this loot was transferred to well-known stock exchanges. Money laundering and pyramid schemes have been part of the cryptospace for years. The improvement of security is an ongoing task.