Bitcoin SV in focus
Bitcoin SV has been experiencing a phenomenal bull run in the last few hours with a price gain of over 100%. After Craig Steven Wright presented a list of his Bitcoin holdings and other documents to the US court on Tuesday, the BSV share price suddenly doubled. For months curious reports about Wright circulated through the cryptospace. After it initially looked as if Bitcoin SV marketer Wright would not be able to prove his claims, his lawyer submitted new documents to the US court. Among them is said to be a document containing the “Bitcoin Trust” for a wallet with assets of 1 million BTC. It also appears that Wright is in possession of the private key for the so-called “Tulip Trust III”. The value of this fund is approximately USD 8.5 billion.
BSV gets things moving
The bull run saw Bitcoin SV make a spectacular advance from position 8 to position 4, with the Bitcoin Forks profiting most from this upward trend. Bitcoin Cash climbs with a daily increase of about 20% to a price of USD 340, the Litecoin is again well above the USD 50 limit and Bitcoin Gold catapults to 33rd place in the crypto charts with a price doubling.
Attack Privacy Coins
Apart from the Bitcoin Forks, the Privacy Coins have the biggest profits in this bull run. DASH made a short-term comeback into the top 10 with a price increase of more than 50% and currently stands at 122 USD. Zcash breaks through the important USD 50 mark with a daily gain of over 20% and Monero (+ 9%) continues to rank 11th in the cryptocharts. Privacy protection is becoming increasingly important in the blockchain sector and the above mentioned coins have represented this niche for years.
Total market capitalization increases extremely
Investors pumped more than USD 25 billion into the crypto market overnight. This creates an explosive mix: volatile prices mix with new capital and hype news. A typical FOMO effect. FOMO stands for “Fear of Misssing out” and could describe the current market situation quite accurately. We know this phenomenon from the spectacular Altcoin seasons. Coins with a low market cap suddenly shoot through the ceiling, only to fall back just as quickly as before. However, Bitcoin SV is an established top 10 coin and not a one-hit wonder. Wright has become one of the most dazzling characters in the crypto space in the past few months and the hype is currently surpassing the “fake” cries. At the moment the market is hard to assess. After horrendous pumps, hard dumps are no rarity. However, the Bitcoin is near the 10000 USD mark and investors smell a new bull run.
Bitcoin dominance falls
The Bitcoin SV-Run lowers the Bitcoin Dominance Index to a value of 65.1 %. The Altcoins make a small comeback at the start of the week. The Bitcoin Forks and the Privacy Coin are the main beneficiaries. The next few hours will provide clarity as to how far the assets can still go. We will keep you up to date!