Bitcoin SV is pumping again. This has been an all too common narrative in 2020. BSV is now looking to top it’s 2020 year high its all-time high. This time, there is nothing backing the pump. Back in January, when BSV was pumping, Craig Wright stated that he knew the people behind the pumps. Could the recent pump be their hand at work? And what’s their end game?
Bitcoin SV (BSV) Set To Break ATH
In mid-Jan, Bitcoin SV shot by more than 100%. This saw the digital asset climb from around $200 at the turn of the year to an all-time high of $360. Much of these gains came between the 12th and 14th. This was a sign that the coin was being pumped, and pumped hard.
This was confirmed by the man behind the coin, Craig Wright. In an Interview with BlockTV, Wright stated he knew who was behind the 100% pump. He, however, denied to state who this was. His admission was a concerning one as it was clear that BSV could clearly be pumped. And in theory, at least, dumped!
“I know what’s behind it, and who, and whatever else. None of that’s public information so I’m not going to share it.”advertisement
Despite being revealed, the whales seem to be still pulling strings. At the time of press, BSV has pumped 15% and going strong. This has taken prices to just over $340.
The primary target now seems to be reaching and surpassing its ATH of $360. The whale’s end game remains unclear. But it is likely they want to create hype and soon as retail investors are buying, dump at ATH.
BSV Ready To Take On BCH Again
Bitcoin SV could further look to surpass Bitcoin Cash in market cap ranking. This happened in Jan but was quickly reversed when Bitcoin Cash rallied. Current data shows that there is almost $4 billion between the two digital assets. While this is a lot to cover in a single rally, let’s not forget that this is BSV, the coin that rallied by 100% in a single day.
A majority of other coins, including Bitcoin Cash, are posting moderate gains. This ranges from 1% to 5%. The top coin, Bitcoin, is trading sideways but just above $9,800 keeping the $10K insight.