Binance has finally decided to delist Bitcoin Cash SV [BCHSV] or popularly known as Bitcoin SV [BSV] as it failed to “meet the high level of standard” of Binance.
Bitcoin Cash SV [BCHSV] will be delisted from Binance on 2019/04/22 at 10:00 AM UTC. However, the withdrawal of the cryptocurrency from the wallets will be enabled three months from April until 2019/07/22 at 10:00 AM UTC.
Price of Bitcoin SV Falls Instantly
The price of Bitcoin SV fell by 8% instantly as the world’s largest exchange decided to delist the cryptocurrency. A gap has been noticed in the 4-hour chart followed by a bearish breakout. It suggests that more downside can be expected in BSV if the bearish pressure catches on.
The price of Bitcoin SV [BSV] at 15: 00 Hours on 15th April 2019 is $64.23. It is trading 8.79% lower on a daily scale.
However, this doesn’t come as a surprise move because Binance CEO, Changpang Zhao, popularly known as CZ had issued a warning on Twitter on 12th January 2019 that Binance would de-list BSV if Craig Wright continues to claim himself being the real ‘Satoshi Nakamoto.’
Even this morning CZ tweeted by saying that:
“Lastly, anyone who supports BSV from a tech perspective should be attacking the fraudulent Craig Wright, who is poisoning YOUR community, and not attack the rest of the world.
Anyone thinking CW is Satoshi should read about how a private key works, ie, learn about crypto. “
The parameters in which Bitcoin SV [BSV] failed to meet Binance’s standards were probably,
- Contribution to a healthy and sustainable crypto ecosystem
- Evidence of unethical/fraudulent conduct
Do you think Binance made the correct decision? What will be the approach of the Bitcoin SV community now?
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Nivesh from Engineering Background is a full-time Crypto Analyst at Coingape. He is an atheist who believes in love and cultural diversity. He believes that Cryptocurrency is a necessity to deter corruption. He holds small amounts of cryptocurrencies. Faith and fear are two sides of the same coin. Follow him on Twitter at @nivishoes or mail him at nivesh(at)coingape.com