Bitcoin SV is in continuous trouble after those backing the coin took legal action against it. Since then, popular figures started speaking against the BSV and its mastermind. On the other hand, Craig Wright, who people see as a trickster claims himself as the true Satoshi Nakamoto.
As per recent reports, BSV gets delisted from Binance. And, Binance is one among the largest cryptocurrency exchanges. Other major exchanges also delisted BSV after finding it engaged in a downward tailspin. As a result, it spirals down to set lows towards the beginning of the quarter.
A popular crypto analyst shares her thoughts on Twitter. According to her even if Bitcoin Cash has recent strength, it might go down. She indicates that the recent surge in its RSI might signal the imminent downfall of the coin. Further, she explains that Bitcoin Cash is one of her biggest winners. However, she adds that he would not be in confusion now. And, a little retracement is what one can expect from the surge.
Bitcoin Cash Wins following the downfall of BSV
As BSV goes through recent price drop and delisting from major exchanges, Bitcoin Cash blooms. Reports say the investors of BSV are devastated with the downfall of it. On the other hand, the positivity comes in the bag for Bitcoin cash. It incurs decent price gains. The firm surges significantly after Binance delists the former.
Interestingly, Bitcoin Cash suffered losses in late 2018. As a result, BSV surged its all-time high. As per data, BSV rose from $260 to $330 approximately. Later, the coin remained at a settling price of $318.80.
Over the past few days, Bitcoin SV plummeted. It trades down over 12 percent currently with the price remaining $55. Last Wednesday, BSV had price nearly $85.
Even though Bitcoin cash gets to benefit from the tailspin of Bitcoin SV, it might go down. As per opinions of experts and analysts, the price of Bitcoin Cash might see a downside in near terms.
Also read: How to Buy Bitcoin Cash in Singapore
More Exchanges are to Delist Bitcoin SV
The recent price drop of BSV has linkage with Binance delisting it. As the decision came out, other exchanges also plan to delist the BSV.
CEO of ShapeShift, Erik Voorhees tweets, recently, that they will delist BSV. As a matter of fact, ShapeShift is a cryptocurrency exchange which plans to delist BSV from their platform.
Moreover, the CEO of ShapeShift says that they stand with Binance and its sentiments. Further, he adds that they have decided to delist BSV within 48 hours.
In addition to ShapeShift, Blockchain.com also announces the same move. They say that they will delist BSV by May 15th, as per reports.
Also, Peter Smith is the CEO and co-founder of Blockchain.com. He says that in the next thirty days, they will end their closeout support for BSV. He also says they will end all the transactions with BSV. And if someone wants to use it, they may go somewhere else.