What's up with bitcoin SV?

[Nalbo]

Bitcoincash had a better rally than bitcoin or ethereum or any other coins in top 10.
But Bitcoin SV showed an unbelievable price hike with over 75% rise in just one hour making it the 12 the currency by marketcap.
https://coinmarketcap.com/currencies/bitcoin-sv/

Does anyone knows what caused this upsurge?

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[lobcmt2]

It is just burning of shorter oders, I like it. So, the point should be discussed now is that whether we should actually short Bitcoin Cash SV now, when it rose around more than 60%. My answer is "Yes, we should short it now". However, as the basic term of short, we should not hold the short positions for too long, short orders and short positions should be finish profit-taking after 4 to 12 candles (usually I use the 15-minute candle chart). Maybe, I set up my profit taking orders around 20% lower than the price at which I short Bitcoin Cash SV.

[dbshck]

Probably this joke: Craig Wright files copyright claim for Bitcoin white paper

[tsaroz]

This guy actually predicted such rise 3 weeks ago
https://www.cryptonewsz.com/bitcoin-sv-bsv-most-likely-to-cross-100-mark-by-the-end-of-2019/17464/

The whales were picking up the cheap bitcoin SV and when they had a large amount, they started pumping.
So, it's not a good time to buy Bitcoin SV but a good time to sell if you have any.
You'll be able to get them back in much cheaper price later.

[lobcmt2]

Probably this joke: Craig Wright files copyright claim for Bitcoin white paper

I saw it hours ago, but any kind of jokes on forks from bitcoin will end with failures and deeply falls. Someone who bought cheap Bitcoin Cash SV should enjoy the ride that comes from the big joke, then take profits and use their money to buy bitcoin, real bitcoin (BTC), I meant. If they naively believe in such big joke and fake exaggerated potential of Bitcoin Cash SV, they might get loss in their funds invested in Bitcoin Cash SV (if they buy it now) as well as losing chances to increase their balance with Bitcoin.

[dataispower]

I saw the price spike and I was astonished, even after delisting by major exchanges. I think it's because of the rumour I saw on coindesk concerning Craig Wright filing copyright claims for Bitcoin Whitepaper. But it's not certain if it's a forced pump or market reaction to the rumor or something else.

[okala]

I will say the whales are at work trying to pump the coin and at the end dump it at once, I will not advice any one to buy bitcoin sv now because the Price may crash back in no time but if you are holding some this is the right time to sell and hold on for a while before buying in again.

[Nalbo]

They are one of the lowest total circulating high priced coin. It had an unexpected price moves in the past and the latest effort seems to be another whale movement to make people fall for the bull trap.
Bitcoin SV is the Bitcoincash fork from Craig Wright. As there are news of Craig being proved as satoshis, people are moving in to buy it.

[Yaunfitda]

Pump-and-dump. The price is cheap compared to bitcoin so obviously casual investors can buy them and be a bag holder of Bitcoin SV.

So that's how smart investors do their magic here, look for a cheap coin and then they pump it like hell and the next thing you know, the price suddenly plummets because they wanted out and book profits very easy. Don't fall for this kind of trap.

[Nadziratel]

Bitcoin SV can only be evaluated temporarily at this point. It wasn't nice to be delisted from the big exchanges.

[tomahawk9]

This guy actually predicted such rise 3 weeks ago
https://www.cryptonewsz.com/bitcoin-sv-bsv-most-likely-to-cross-100-mark-by-the-end-of-2019/17464/

Wrong, that guy didn't predict this surge. It says right there in the headline that the price could hit the $100 at the end of the year, it doesn't say that on May 21st there'll be a spike in its price towards $100.

Probably this joke: Craig Wright files copyright claim for Bitcoin white paper

Yep, this is the main reason.

But it looks like the first huge dump just hit the coin. It reached a peak of $140 and then went down to $95, that's around 30% drop in the price. Now it's going up again, currently at $99 in some exchanges. Typical pump and dump behaviour = shitcoin.

[kenzawak]

It all happened in an hour (+116%), just after the article about Wright's copyright (haha) was published. Then BSV got dumped... because people are smart and don't want to hold that useless coin.
It will soon be near where it should be... zero.

[Adriano2010]

I think maybe was just some pump, but i think on future the people will not invest so much on BSV and this will cause the price drop, most of people will start invest on bitcoin because they know bitcoin is always bitcoin.

[BelarusToken]

i think...wait new forks on SV

[passwordnow]

From $61 to $96, I wouldn't noticed it until someone asks on social media on what happened to bitcoin SV. I thought that it's already drowned but the opposite thing has happened. I think the main reason for this was this..

https://cointelegraph.com/news/self-proclaimed-satoshi-craig-wright-files-us-copyright-registrations-for-btc-white-paper
https://www.ccn.com/craig-wright-files-copyright-registrations-bitcoin-whitepaper-code-satoshi-nakamoto

[milewilda]

Typical pump and dump behaviour = shitcoin.

I cant agree no more with this line which is definitely true.This isnt really that surprising at all yet this is just really a typical P&D.
The thing here is that we know SV's recent issue but it did still able to manage to increase its price but same as usual when bitcoins price tend
to bull up then altcoins no matter how shit it is, it would always follow.

[ethereumhunter]

That still unknown reason for me and I see that bitcoin SV was increased in this day. Maybe there is a news that we don't know or there are people who want to lift the price to the higher price like what we see now. But I am curious how much bitcoin sv can increase tomorrow because if the situations are like this, then we might see another highest price of bitcoin sv later.

[puertorikosena]

I dare to suggest that this coin is subject to manipulation. It can be used as a means of obtaining quick profits but not at all as an investment.
I think that after such a sharp jump in prices, the rollback will be long.

[pixie85]

People are pumping because there was this stupid article about white paper copyrights given to Craig. When his claim really gets rejected as it should because he can't prove anything people will dump this shitcoin again. Really guys who is buying this shit? Would you buy SV now?

Nobody is buying it for its value it's just Craig. This is the main weakness of this coin. If Craig dies or gets arrested it will reach new lows.

[electronicash]

People are pumping because there was this stupid article about white paper copyrights given to Craig. When his claim really gets rejected as it should because he can't prove anything people will dump this shitcoin again. Really guys who is buying this shit? Would you buy SV now?

Nobody is buying it for its value it's just Craig. This is the main weakness of this coin. If Craig dies or gets arrested it will reach new lows.

yeeh about that. it almost work so its going to make people buy the coin as its rising. government recognizing craig wright is sure something a positive news that will make BSV worth buying but of course we all know he hasn't proved himself as satoshi. a coin built by a con man is bound to scam, when it reach its new lows after this final act its also going to start dying.