- BSV/USD has been moving to the North in sync with the market.
- Experts found out a weired bug that allows BSV nodes connecting to BCH nodes.
Bitcoin SV (BSV) topped at $370 on Sunday and below $340 by the time of writing/. The coin has lost nearly 4% of its value on a day-to-day basis amid global correction on the cryptocurrency market. With an averaged daily trading volume of $3.4 billion and a total market cap of $6.2 billion, it sits in the 5th place in the global cryptocurrency market rating compiled by CoinMarketCap.
Critical vulnerabilities revealed
Bitcoin SV was created in November 2018 as a fork of Bitcoin Cash, which, in its turn, is another fork of Bitcoin. The coin is supported by a self-proclaimed Bitcoin’s creator, Craig Wright, who says that Bitcoin SV is a true Bitcoin as it reflects a Satoshi’s vision.
However, as it turns out, the protocol of Bitcoin SV is severely flawed as some BSV nodes can connect to Bitcoin Cash (BCH) nodes. As it stands out, the two protocols are very similar, or their differences are so so small that the nodes cannot differentiate between the two.
Twitter user Ben Verret posted the news on his Twitter account, referring to the chart between BSV network participants on GitHub.
Train wreck: BSV nodes connect to BCH nodes.
Notably, Bitcoin SV initiated a hard fork recently, which was supposed to become a major update for the network.
BSV/USD: the coin locked in a short-term downtrend
BSV/USD is drifting down with the market towards the first important support created by psychological $300.00 reinforced by SMA50 4-hour. Once it is out of the way, the sell-off is likely to gain traction with the next focus on SMA100 4-hour at $292 and the lower boundary of the previous consolidation channel at $283.
On the upside, we will need to see a sustainable move above $350 for the upside to gain traction and take us t the recent high of $370. If it is sustainably borken, psychological $400.00 will come into focus.
BSV/USD 4-hour chart
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