Data Shows Why Bitcoin SV’s 163% Rally in a Week Won’t Last

[Jating]

These parabolic gains appear to have been driven by strikingly low trading volume from reputable exchanges, signaling that this recent rally could be pure market manipulation driven by market making algorithms that engaged in wash trading to propel the crypto’s price.

Nicholas Merten, a popular cryptocurrency analyst and the founder of the popular YouTube channel DataDash, spoke about this in a recent tweet, noting that the vast majority of Bitcoin SV’s recent volume has originated from no-name exchanges.

“Ignore the price moves of BSV. Only $35.6M of volume is from exchanges open to US traders. The other 99.4% of daily volume is made up of mainly no-name exchanges and known wash trading exchanges that still deceive this space. They can basically dictate a false price,” he noted.

https://www.newsbtc.com/2020/01/15/data-shows-why-bitcoin-svs-163-rally-in-a-week-wont-last/

Well it does make sense, we don't need to be a rocket scientist to see that some manipulation from behind is happening on BSV. And just look at today current slump, almost 25% now and counting. I do hope that those who investors who did join the hype should get out by now in order to realised their gains from this manipulations.

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[Yaunfitda]

This is what I have been saying all along, that kind of spike is not sustainable in the long run.

I don't have the data, but thanks to this news, it clearly shows that someone is manipulating the price to their advantage. No wonder that in the last couple of days, the price suddenly went on an upward trend without any fundamental reasons behind expect manipulative action from whales colluding with each other.

[chennappa121]

How did happened that 99.4% of trading Volumes comes from unidentified exchange and how can it possible? maybe there is a issue to getting data from crypto exchange? anyway the bitcoin sv as consider most risky coin for invest from some crypto experts and bitcoin sv is getting ready to downfall now so better to exist who are already in profits now.

[TravelMug]

How did happened that 99.4% of trading Volumes comes from unidentified exchange and how can it possible? maybe there is a issue to getting data from crypto exchange? anyway the bitcoin sv as consider most risky coin for invest from some crypto experts and bitcoin sv is getting ready to downfall now so better to exist who are already in profits now.

It's possible if there's a manipulation. There are a lot of mid-to-small tier exchanges out there, and its hard to trace what's going on that platform (fake volume, wash trading), so there's a possibility that some manipulators are using it to push the price of BSV.

But it looks like it is already down, the price is around $288.46, from ATH of $438.61 just last Tuesday.

[Thomas-s]

How did happened that 99.4% of trading Volumes comes from unidentified exchange and how can it possible? maybe there is a issue to getting data from crypto exchange? anyway the bitcoin sv as consider most risky coin for invest from some crypto experts and bitcoin sv is getting ready to downfall now so better to exist who are already in profits now.

this is possible if the coin is very centralized and everything is in the hands of one person. thus, such a person can very easily manipulate both price and volumes, and Bitcoin CV is such a coin in which one person controls everything and that is why it is very risky. If you like risks then you can make very good money on moving of the price of this coin, but if you do not want to lose your money, then it’s better not to avoid this coin

[DaMut]

Whole Market is manipulated including bitcoin.

we know about this, but bsv is entirely on a different level of manipulation. the other markets get manipulated because it is part of the cycle, it happens when traders are making a strategy to pressure or relieve the market to make a profit, while in bsv the manipulation happens whenever craig do something. to put it bluntly, bsv can be considered as his personal asset, do you think something like this can sustain? people will get sick of it because there is no natural growth that will happen with it.

[Vishnu.Reang]

Whole Market is manipulated including bitcoin.

You can say that. But the level of manipulation varies from coin to coin. I would say that it is extremely difficult to manipulate the exchange rate of a currency such as Bitcoin, which is being traded across hundreds of exchanges and having a market capitalization of more than $150 billion. But it is definitely possible with BSV, which has a market cap of only around $5 billion and traded in a few dozen smaller exchanges.

[Darooghe]

It's easier to pump a coin that nobody owns or cares. Traders don't have established positions. The game is played over and over. Bitcoin SV might flat-line in USD value after this, but it will most definitely drop in BTC value. It is a crypto manipulation at best description, followed by massive FOMO. It's market is extremely bullish right now by Whales activity. That combined with the fact that there’s a lot more money in the market because of closing to Bitcoin halvening, I think we’ll keep seeing other coins pump massively.

[Tipstar]

It's not the first time we've seen such pump on BitcoinSV. They are the coin with largest marketcap that has multiple of pumps and dumps in the last year. And it's price has been mostly related to the founder Craig Wright and his case and his claimed identity as satoshi. But even Craig is satoshi and he supports BitcoinSV, it won't change my preference of Bitcoin while BSV would always remain just another alt.

[Baofeng]

Whole Market is manipulated including bitcoin.

It's hard to manipulate bitcoin per se at its market is really huge as compare to BSV or any another altcoin for that matter. That's why there are bitcoin maximalist telling us that "pump" is not in their vocabulary,  . Is the data relevant? definitely, it just really shows that this sudden and massive pump of Bitcoin SV is not natural and sure, someone is going to get benefit from this. Right now the price is above $300 and is chasing BCH. But nothing will change though, BSV is just another creation by faketoshi and it will consider as another altcoin that can be manipulated anytime.

[South Park]

These parabolic gains appear to have been driven by strikingly low trading volume from reputable exchanges, signaling that this recent rally could be pure market manipulation driven by market making algorithms that engaged in wash trading to propel the crypto’s price.

Nicholas Merten, a popular cryptocurrency analyst and the founder of the popular YouTube channel DataDash, spoke about this in a recent tweet, noting that the vast majority of Bitcoin SV’s recent volume has originated from no-name exchanges.

“Ignore the price moves of BSV. Only $35.6M of volume is from exchanges open to US traders. The other 99.4% of daily volume is made up of mainly no-name exchanges and known wash trading exchanges that still deceive this space. They can basically dictate a false price,” he noted.

https://www.newsbtc.com/2020/01/15/data-shows-why-bitcoin-svs-163-rally-in-a-week-wont-last/

Well it does make sense, we don't need to be a rocket scientist to see that some manipulation from behind is happening on BSV. And just look at today current slump, almost 25% now and counting. I do hope that those who investors who did join the hype should get out by now in order to realised their gains from this manipulations.

What surprises me is that people are still falling for this kind of manipulation, anyone that knows a thing or two about investing knew this movement was manipulated and yet there are many people bragging about their paper profits instead of getting out of the market and selling their coins for such a high price, anyone that keeps holding BSV during the next weeks is going to lament it especially those that bought their coins during the last days.

[Wh00re]

Of course it wont last. BitcoinSV has NO use case, in fact it's delisted on a lot of exchanges. I wouldn't touch it..

Funny how so many people invests in hype projects, only to be burned hard later on. Why not invest in something with an actual future?
Decentralization should be anyone's main focus, since it's SO important if we want crypto to survive all the regulation it's undergoing right now.

Blocknet made the first DEX, and is working on decentralized oracles as well, yet nobody hardly even talks about it. Blows my mind, lol

[DoublerHunter]

Of course it wont last. BitcoinSV has NO use case, in fact it's delisted on a lot of exchanges. I wouldn't touch it..

^ There are exchanges that delisted BSV because they called it its a "Fraud". The world's largest crypto exchange Binance was delisted BSV because of the reason it is a fraud. Not only Binance but also Kraken and Shapeshift was supported Binance about delisting on this coin. It is totally fake volume and that is obviously manipulated price.

[Zicadis]

Looks like an excellent opportunity to short.

BSV has just been knocked back out of fourth position by BCH, and will probably get taken over by Tether again soon.

I've just opened a short with 10x leverage on Delta Exchange, I'm pretty sure that BSV will fall back under $250 within 2 weeks.

[X-ray]

Whole Market is manipulated including bitcoin.

we know about this, but bsv is entirely on a different level of manipulation. the other markets get manipulated because it is part of the cycle, it happens when traders are making a strategy to pressure or relieve the market to make a profit, while in bsv the manipulation happens whenever craig do something. to put it bluntly, bsv can be considered as his personal asset, do you think something like this can sustain? people will get sick of it because there is no natural growth that will happen with it.

Exactly, the manipulation is ridiculous and honestly it's just a trap for people and those wiho might buy it right now will definitely lose money. it doesn't take a genius to figure it out that this coin is just a pump and dump game and for people out there dont take this coin too seriously. Just choose a better option than BSV.

[Kyraishi]

I'd short it. In the long run, this coin has absolutely no value since its intrinsic value is derived from the very fact that Craig Wright is satoshi, which is simply not true.

But be careful if you do decide to short. Don't lever yourself too high because you don't know when the manipulation is going to end and when BSV supporters will jump ship. Right now, there is a lot of speculators in the market that aren't even believers in BSV, which makes the market all the more unpredictable.

In the long run though, BSV should regress to its true value which is substantially lower than what it is right now.

[o48o]

How did happened that 99.4% of trading Volumes comes from unidentified exchange and how can it possible? maybe there is a issue to getting data from crypto exchange? anyway the bitcoin sv as consider most risky coin for invest from some crypto experts and bitcoin sv is getting ready to downfall now so better to exist who are already in profits now.

It's not even about trading volume, it's about liquidity. When the volume is faked, it can be ignored because it doesn't really have anything to do with the price movement anymore. But if few people control most of the coins and have enough money, they can control the liquidity and pump&dump the price.

[sureshnsnet]

There is still good trading volumes for BSV and after fall down 26% yesterday, the BSV trading volume is around 460,000 bitcoins for 24 house and it will give more pumps to BSV coin, maybe we have to understand the situations and get the benefits if BSV got 99.4% of trading volume from unknown sources also no problem, the short time investment can give good return but it depends on entire and existing levels.

[TimeTeller]

How did happened that 99.4% of trading Volumes comes from unidentified exchange and how can it possible? maybe there is a issue to getting data from crypto exchange? anyway the bitcoin sv as consider most risky coin for invest from some crypto experts and bitcoin sv is getting ready to downfall now so better to exist who are already in profits now.

It's not even about trading volume, it's about liquidity. When the volume is faked, it can be ignored because it doesn't really have anything to do with the price movement anymore. But if few people control most of the coins and have enough money, they can control the liquidity and pump&dump the price.

That is why wash trading is a common method to increase the volume of a certain coin.
Even if they don't have the big amount of btc, doing the trading over and over again will give them the image that there is a lot of btc involved.
However, this activity is tiring unless they have bots on every exchange that can do the continuous trading.
And this is really not a sustainable approach for the project. They are just fooling themselves if this is their strategy to show to the community that their price is increasing.

[fuer44]

That makes sense, this article makes sense. because of course the price increase also begins with the volume rising as well and the volume increase is also influenced by the liquidity of the coins which means that many coins are bought. and in this BSV is different, because of its low volume, but shows an increase of more than 100%. this indeed makes everyone surprised and surprised. is this manipulation? it could be, as has been written in the article that there might be an attempt to determine their own prices so that the price of coins can be pumped up.