Crypto Market Sees Green While Bitcoin SV Keeps Tanking

The cryptocurrency market has seen a slight rebound over the past 24 hours after Bitcoin managed to break back above the $5,000 level, once again. This rebound has helped the majority of the top 20 cryptocurrencies climb slightly higher. However, after the recent controversy, Bitcoin SV continues to tank further lower.

Source: CoinMarketCap

Binance Coin Leading The Way

From above, we can see that in today’s trading session, Binance Coin is leading the way with a 3.63% price hike, bringing the cryptocurrency for the largest crypto exchange close to the elusive $20.00 handle.

Stellar, Ethereum, and Bitcoin have all had price increases that are over 2%.

Bitcoin has returned back above $5,200 as the market now attempts to break above strong resistance at the $5,250 level. Above this, the next level of significant resistance is at $5,455. Bitcoin is still up by a total of 43% over the previous 90 trading days.

Ethereum is currently trading around the $167 level as the market attempts to break above the resistance at the $170 level. Above $170, the $185 level will provide higher resistance. Ethereum is up by a total of 37% over the past 90 days.

Stellar is currently trading around $0.1157 with the next level of resistance at $0.20. Above this, significant resistance is then at $0.1350 which is the 2019 high. Stellar has not enjoyed a significant price surge from the recent Bitcoin price rise after only increasing by 6% over the past 90 days.

Bitcoin SV Continues To Tank

Despite the positive sentiment in today’s market, Bitcoin SV continues to head further lower.

The cryptocurrency has come under heavy backlash after the founder, Craig Wright, threatened to sue a Twitter user and a crypto blogger for libel and defamation. The Twitter user had started the hashtag #CraigWrightIsAFraud. Wright did not take too kindly to this and threatened to sue after placing a bounty on the Twitter users’ identity.

The crypto community became tired of Wright’s antics and have banded together to put a stop to it. Binance and ShapeShift both threated to delist BSV if Wright continued with the lawsuit and both exchanges have recently followed through with their threats and have announced that they are indeed de-listing BSV.

After the announcement, BSV began to sink further lower as it now trades around the $56 level. The cryptocurrency has lost a total of 1.69% over the past 24 hours and has lost a further 30% over the past 7 trading days.

Will Bitcoin SV continue to tank further lower as more exchanges de-list the cryptocurrency? Let us know what you think below!


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