Well, not a lot of people have been in support of Craig Wight and his version of BCH fork, the Bitcoin Cash Satoshi Vision. A lot of crypto influencers have made some serious remarks on how they do not support the version released by Craig White. The latest addition to this list is the prediction made by Jimmy Song who believes BCH SV will nosedive in days to come.
Jimmy Song prediction could bring heartbreak to BCH SV supporters
Jimmy Song is usually known to use social media to provide instructive and educative videos regarding blockchain and cryptocurrencies. He hardly makes a prediction regarding any coin or token as he loves to call himself an instructor than an analyst. In one a rare day, Jimmy took his twitter to make a prediction as he tweeted saying that the new BCH fork, BCH SV, backed by Craig Wright, will drop by 90% from its all-time high in the next 6 months.
Prediction: SV will drop 90% from it’s high in the next 6 months.
— Jimmy Song (송재준) (@jimmysong) November 24, 2018
Well, if his prediction comes true, we might see BCH SV languishing at around 5 dollars or even lower considering the coin would have only 10% of its value as on today.
Although he hasn’t given any reasons for his prediction, but it could the one that is floating across the street- BCH SV has very little support from the community to stand too long fighting.
The other Fork, BCH ABC’s implementation of the BCH network has been substantially more popular among major players in the industry like Vitalik Buterin, the co-founder of Ethereum [ETH], and Charlie Lee, the founder of Litecoin [LTC].
A couple of days back, leading exchange Kraken too has somewhat distanced itself from the Satoshi Vision implementation according to by the circular released by the exchange. The circular said:
“Bitcoin SV does NOT meet Kraken’s usual listing requirements. It should be seen as an extremely high-risk investment. There are many red flags that traders should be aware of”
The Kraken team also mentioned that no known wallets support replay protection. They have also said that the miners on the SV network are “apparently subsidized or are operating at a loss”
Recently Bittrex, another popular cryptocurrency exchange, asked users to tread with caution while sending BCH/SV as there is no replay protection.
Jimmy Song’s understanding of blockchain and cryptocurrency is somewhat unparallel and definitely has some weight in it. Being a Bitcoin Developer coupled with his sharpness to details and consideration to facts has earned him a place at Blockchain Capital. In words of Bart Stephens, partner of Blockchain Capital, who rightly described Jimmy
“Jimmy has demonstrated a deep commitment to the crypto development community. These ‘unsung heroes’ push the innovation envelope and bring to market much of the technology and services that comprise the blockchain and crypto industry today”
Well BCH SV supporters would want Jimmy to go wrong on his prediction, but they too know its going to be a hard task to get that wrong.
Do you believe BCH SV will dive to 10% of what it is today? Do let us know your views on the same.
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Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Follow him on Twitter at @KoinKing1 or connect with me on linkedin.