Bitcoin Cash (ABC) Jumps 15% As Capital Flows Out of BSV Following Binance Delisting

2019-4-15 19:57

The cryptocurrency community is up in arms over recent controversy surrounding Bitcoin SV and its supporters.

The controversy was enough to cause leading cryptocurrency exchange Binance to delist the digital asset from its platform. Following the wake of the delisting, Bitcoin Cash, the blockchain Bitcoin SV was forked from, has surged as much as 15% as capital from one cryptocurrency flows into the other.

Bitcoin Cash Surges 15% As Bitcoin SV is Delisted From Binance

Today, Binance CEO Changpeng Zhao announced via Twitter that his exchange, one of the market leaders according to trading volume, will delist the 12th largest cap cryptocurrency, Bitcoin SV effective immediately.

Do the right thing. https://t.co/z7HGsAZnmR

— CZ Binance (@cz_binance) April 15, 2019

The news sent the price of Bitcoin SV dropping as much as 7% as investors flee the asset for safer havens. Binance being among the top exchanges in the crypto industry, could cause a domino effect of exchanges delisting the crypto, lending to increased fears in those that hold Bitcoin SV.

Related Reading | Binance Delists Bitcoin SV, BSV Price Plunges in Minutes 

The resulting selloff has caused the price of Bitcoin SV to fall from around $70 to $65. Bitcoin SV, was the result of a hard fork of the Bitcoin Cash blockchain, which was a fork of the original Bitcoin.

While Bitcoin SV has dropped following the news, the price of Bitcoin Cash has spiked as much as 15%, as capital from Bitcoin SV investors cashing out flows back into Bitcoin Cash.

Bitcoin Cash is currently up over 300% from its 2018-2019 bear market low of $80. The crypto camp led by Roger Ver nearly doubled in value in just one day, following Bitcoin’s rally to $5,000 at the start of April.

Related Reading | 2019 Crypto Alt Season Kicks Off With Over 20 Altcoins Doubling in Value

Bitcoin SV, on the other hand, appears to be primed to set new all-time lows, as the current selloff intensity increases dramatically following the negative press and controversy.

Joking aside – any bets that were on $BCHSV are going to flow into $BCH (ABC). It's already catching serious bids right now.

Binance announcing they will delist will probably lead to other exchanges doing the same.

Like it or not – coins need exchanges to survive.

— Luke Martin (@VentureCoinist) April 15, 2019

As crypto analyst Luke Martin points out, assets need exchanges to survive, so the delisting of Bitcoin SV by Binance could theoretically deal a death blow to the crypto asset. Especially if a ripple effect by one of the industry’s leaders causes other exchanges to follow suit and delist the Bitcoin Cash fork.

Bitcoin SV stands for Satoshi’s Vision. Supporters of the cryptocurrency claim that BSV is the original true vision for Bitcoin.

A “war” between the Bitcoin Cash camp and Bitcoin SV supporters is said to be the black swan event that created such market turmoil, it led to a steep selloff in November 2018 that eventually took the price of Bitcoin and the rest of the crypto market to its bottom destination.

Featured image from Shutterstock

The post Bitcoin Cash (ABC) Jumps 15% As Capital Flows Out of BSV Following Binance Delisting appeared first on NewsBTC.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 68314.17 (-0.46%)
Объем 24H $27.25b
Изменеия 24h: 1.21 %, 7d: 0.29 %
Cегодня L: $67324.36 - H: $68726.21
Капитализация $1346.17b Rank 1
Цена в час новости $ 5620.22 (1115.51%)

bitcoin following binance cash delisting controversy cryptocurrency

Источник: newsbtc.com

bitcoin following → Результатов: 126


Hackers Double Down On Bitcoin Demanding $11m In Latest Ransomware Attack

Reports have emerged that hackers were paid $11 million in Bitcoin following an attack on JBS USA Holdings, a meatpacking firm that supplies 1/5 of the country’s meat. Following the recent Colonial Pipeline hack debacle, which raised doubts on the story’s legitimacy, observers are watching this latest cyberattack with wariness. Hacker Group REvil Demanded Bitcoin […]

2021-6-11 03:00


Фото:

Crypto Markets Turn Green Following Tough Week, Bitcoin Price Nears $18k

Following its latest plunge to $16.1k, Bitcoin has recuperated and almost at $18k again after dwindling close to $15k, inching closer to the all-time high of around $20,000. The digital asset appears unstoppable in the last couple of weeks, climbing higher every single day with only a few retracement periods. Nonetheless, this bull rally seems […]

2020-11-29 00:03


Why BitMEX is Back Under Scrutiny Following Bitcoin’s Rejection at $10.4k

Following Bitcoin’s brutal dump at $10. 4k, the inquest into what went wrong is taking place now. Theories regarding whale manipulation consistently make the rounds during such times. But a more tangible explanation alleges that manipulation at derivatives trading platform BitMEX contributed heavily to the losses sustained yesterday.

2020-6-4 16:36


Another Bitcoin ATM Launches In South Africa Following Shutdown Of The Previous

South Africa, one of the places in the continent which cryptocurrencies have gained ground is set to take another shot on launching the first fully functional Bitcoin ATM in the country. The country had initially launched a similar ATM way back in 2014, but the ATM has since been shut down as a result of […] The post Another Bitcoin ATM Launches In South Africa Following Shutdown Of The Previous appeared first on ZyCrypto.

2018-6-26 20:20


Фото:

‘Crypto Virgins’ Are Driving The Price Of Bitcoin

Very recently, news has found that stablecoin, Tether, has been accused of being used to manipulate the price of Bitcoin. You can see our coverage of this story, here- https://cryptodaily. co. uk/2018/06/new-reports-find-that-tether-is-being-used-to-manipulate-bitcoin-price/ We all know that the cryptocurrency markets are volatile and thus, we all know that lots of influencing factors can change the price of Bitcoin, be that political, traditional-financial or indeed, crypto-financial.

2018-6-26 13:30


Фото:

6 Reasons Why Bitcoin Price is Down — (And Some Positive News Too)

As the week comes to a close, let us reflect on and digest all the news — most of which was negative, that happened in the cryptocurrency arena affecting Bitcoin price. Oh Look, Another Exchange Hack Tuesday evening, popular South Korean cryptocurrency exchange Bithumb reported a system breach that resulted in approximately $31 million worth of cryptocurrencies being stolen.

2018-6-24 23:00


Japan’s bitFlyer Halts Taking on New Business to Fix Issues Following FSA Order

bitFlyer, Japan’s largest Bitcoin exchange, is being forced to stop taking on new business after regulators said it wasn’t doing enough to stop money laundering and terrorist financing. The move by the Tokyo-based exchange saw a drop in the price of the coin and highlights how the country’s financial watchdog, the Financial Services Agency (FSA),.

2018-6-23 22:00


Фото:

Government Save Bank of St. Louis Includes Crypto Cost Following to Inquire about Database

The Federal Reserve Bank of St. Louis will now be tracking the prices of four cryptocurrencies on their research database, according to a June 19 post on the bank’s website. The database, called the Federal Reserve Economic Data (FRED), will now include the prices of Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC) from

2018-6-22 00:48


Bitcoin Price Near Bottom as ‘Selling Has Become Exhausted,’ Says Market Strategist

Bitcoin’s decrease in volatility may signal that the bottoming process has already begun — but it may still have a way to fall. ‘A Bottoming Process Can Begin’ While everyone and their grandmother know about Bitcoin’s dramatic decrease in value following exorbitant prices in December 2017, many investors and traders in the first and foremost cryptocurrency are less aware of its decreased volatility.

2018-6-20 17:00


Фото:

Bitcoin is once more facing a drop to (or below) $6,000, with both short- and long-duration charts being aligned in favor of the bears.

Bitcoin (BTC) is once more facing a drop to (or below) $6,000, with both short- and long-duration charts being aligned in favor of the bears. Further, while a fall to $6,000 following a bear flag breakdown on Friday seemed likely, losses were unexpectedly cut short at $6,300, signaling bearish exhaustion. Yet, the leading cryptocurrency did

2018-6-18 16:44


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Why Expiry of CME Bitcoin Futures Suggests BTC Price to Soon Pass $8,000

On Friday, the Chicago Mercantile Exchange’s cash-settled Bitcoin futures contract for the month of November was reported to have expired by a number of analysts. While these financial derivatives are cash-settled, analysis by a top cryptocurrency trader suggests that the expiry of the monthly futures means that BTC has a positive price trajectory into the.