Bitcoin SV explodes, Bull Run at the crypto market – The reasons

The Bitcoin-SV price rose by 25 percent in the last 24 hours. At the same time, the entire crypto market is moving with it. Bitcoin price (BTC), Ethereum price (ETH), Ripple price (XRP) and IOTA price (MIOTA) are rising significantly. What’s going on at the crypto market. 

Welcome to the crypto rally on Tuesday. In the last 24 hours the Bitcoin-SV course (BSV) gained a whopping 25 percent in strength. This puts the project, which promises to represent the original vision of Bitcoin inventor Satoshi Nakamoto, at a valuation of 203 US dollars per token. Driving force Bitcoin (BTC) is again at 8,500 US dollars, and has thus been able to record a profit of almost five percent. The Altcoins Ethereum (ETH), Ripple (XRP) and IOTA (MIOTA) also benefit from the rally.


Bitcoin-SV price (BSV) outperforms market

According to a press release issued by BTC-ECHO, Zweispace, a blockchain start-up based in Tokyo, Silicon Valley and Singapore, began using Bitcoin SV blockchain on January 13. According to Zweispace, it holds several block chain patents and uses the technology infrastructure behind Bitcoin SV to drive real estate and legal tokenization.

The company publishes its own coin, the Zweicoin, based on Bitcoin SV code. The crypto currency of the parent platform BSV itself is not used. The system also runs on its own smart contract platform called Zweichain, a system that is intended to enable the operation of both a private and a public block chain. The Namazu token, which is part of the system, is designed to support the construction industry in Japan with a focus on earthquake protection. The first tokens can be purchased with Bitcoin SV tokens themselves. 

However, the Bitcoin SV course has not only been picking up since yesterday. It is currently recording a 7-day gain of 71 percent, and within the last 30 days the crypto currency has risen by as much as 120 percent. Thus, the coin currently stands at 203 US dollars.

It is being  discussed in the community whether the current meteoric rise in the Bitcoin SV price is a large-scale exit scam in the sense of a pump and dump.

Finally, the court case of BSV Galion figure Craig Wright is still ongoing, which fuels these speculations. The Bitcoin SV skeptics’ interpretation of this: “Get it all out again before it’s too late!


Rally on the crypto-market: Ethereum (ETH), Ripple (XRP), IOTA (MIOTA) follow suit 

The mood is currently bullish in other Altcoins as well.

The Ethereum share price (ETH) has risen by 4 percent in the last 24 hours. In the last seven days, however, the number two crypto currency has risen by three percent. Vitalik Buterin’s brainchild is now valued at 149 US dollars.

 The “bank coin” XRP from Ripple is also pleased about increases. Within one day, the Ripple rate (XRP) rose by 2.37 percent to a valuation of 0.218 US dollars. In the 7-day valuation, however, it is still somewhat negative at 1.19 percent. 

In the meantime, the IOTA exchange rate (MIOTA) has also risen. With a 24-hour plus of almost 5 percent and a 7-day plus of almost 8 percent, the crypto currency for the Internet of Things is 0.1973 US dollars.


Bitcoin exchange rate: Crypto draught horse again over 8,500 US dollars

In addition, the crypto lead currency is currently enjoying price gains. At 8,538 US dollars, the largest crypto currency by market capitalization is currently 5 percent stronger than 24 hours ago. Within one week the Bitcoin exchange rate increased by 9.25 percent.


Important events on the crypto market

The sharp rise in the overall crypto market coincides, among other things, with renewed suspicions of Bitcoin price manipulation. As we explain here, the crypto companies Tether Limitied and BitFinex are facing a renewal of a lawsuit accusing them of large-scale manipulation. However, these allegations have not been confirmed. 

Furthermore, yesterday, January 13, the Chicago Options Exchange started trading Bitcoin options. Investors can therefore now trade warrants on the Chicago Mercantile Exchange (CME) that derive their underlying asset from futures. Read more about this topic here.

Finally, it should be mentioned that Visa also announced on 13 January that it was taking over the crypto company Plaid for the sum of 5.3 billion US dollars. This is a boost to adaptation, which favours price rises on the crypto market.