Bitcoin SV [BSV] crashes after bull run as investor sentiments take a hit

After siding with the bull on Tuesday and making its way to the CoinMarketCap’s top-10 list, Bitcoin SV [BSV] has fallen prey to the bear once again. After having grown 80% in the past seven days, on Wednesday, BSV started trading after falling 27% and had slipped to the ninth position.

On the other hand, the market that was covered in red on Tuesday, appears to be bullish on Wednesday. At the time of writing, BSV was trading at $92.87, after going down over 9% over the past 24 hours.

According to the CoinMarketCap, the coin was trading at $83.99, with a 24-trade volume of $2.62 billion. The maximum trading volume was registered by Upbit, a South Korean cryptocurrency exchange, on the BSV/KRW trading pair. The second and third positions were held by Binance in the BCHSV/USDT and BCHSV/BTC trading pairs respectively.

Upbit registered a 24-hour trade volume of $79 million, while Binance registered a 24-hour trading volume of $67 million and $52 million on the BCHSV/USDT and BCHSV/BTC pairs respectively. Binance was followed by Bithumb, Coinsuper, and Gate.io.

The cryptocurrency had gained the brief momentum after Dr. Craig Wright, the Chief Scientist at nChain, aka Faketoshi, tweeted:

“On Friday, at Coingeek week, I will be announcing a game changing new tech we have for SV. Bitcoin as it was originally intended And, only SV”.

Calvin Ayre, the founder of Ayre group and a key player in the crypto market, had earlier stated that BSV’s return was in the form of an “original Bitcoin” and the future of BSV.

He said that BSV has better technology and stated:

“It is a superior technology, head and shoulders above any other chain, and this has been proven when we mined a 64 MB block on the BSV chain last week. No other crypto platform is even close to scaling this much, and this is only the beginning of BSV’s scaling road map.”