- Bitcoin SV rose at least 67% in May in addition to the formidable gains recorded in April.
- BSV surged massive recording gains in the excess of 231% over the month of May.
Cryptocurrencies continue to flex their muscles amid a market that is significantly bullish. Despite the recent declines assets Like Bitcoin, Ethereum are sustaining above new key support levels. Bitcoin rose at least 67% in May in addition to the formidable gains recorded in April. The largest asset spiked above $9,000 on various exchanges before correcting to test the support $7,500.
Significantly, the market leader has been none other than Bitcoin SV (BSV), the controversial crypto asset birth following a split of Bitcoin Cash parent code. The lead developer of BSV is Craig Wright, who in the recent past has engaged in verbal fights on Twitter with other leading experts in the industry like Binance CEO, Changpeng Zhao and Ethereum’s Vitalik Buterin.
Rising above the controversies, BSV surged massive recording gains in the excess of 231% over the month of May. At press time, Bitcoin SV is trading at $228.5. The drop in prices on Tuesday saw Bitcoin plunge to lows just above $215 before rising again to test $235 on the upside.
The surge is likely triggered by Craig’s filing of the copyright registration for Bitcoin’s original code. While the copyright registration does not prove that Craig is the true Satoshi Nakamoto, it sure did assure investors that Wright is in the right direction. Following the filing BSV spiked more than 200% certain exchanges. However, Jerry Bistro the executive director of Coin Center cautioned:
“Registering a copyright is just filing a form,” he added “The Copyright Office does not investigate the validity of the claim; they just register it. Unfortunately, there is no official way to change registration. If there are competing claims, the Office will just register all of them.”
Further gains have been linked to a piece of fake news that circulated mostly in China detailing that Binance had agreed to re-list Bitcoin SV and even sent apology via Twitter after Craig Wright transferred 50 BTC from one of the largest BTC wallets to Binance.
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