In the case of so many events in the broader market, the fork of Bitcoin Cash which is known as Bitcoin SV has surpassed its rival to the fifth largest spot by capitalizations.
While so much loss is being experienced by every cryptocurrency that falls in the top 20, Bitcoin SV has increased by over 28 percent. The recent price increase of the coin has resulted to a “flippening” in market valuation and investor expectations, with SV being ahead of its rival.
Previously, EWN reported that the Bitcoin Cash hardfork which led to rival currencies Bitcoin ABC and SV, triggered a “harsh war” that almost destroyed the whole industry in the fall out.
On the 23rd of November, after two weeks of experiencing plummeting prices in crypto, SV’s team surrendered to their rival and accepted the title of Bitcoin Cash.
Calvin Ayre, an SV representative claimed that his community was ready to progress from the conflict caused by Bitcoin ABC and that investors and the mining group”no longer (wanted) the name Bitcoin Cash”
In an interview with Coingeek, Ayre added that: “We have a clearly defined path and this is now ready for implementation. Our definition of winning is SV existing, which was not what ABC wanted, and we are already moving on to grow the ecosystem.”
At the time, it appeared that the move implied that Bitcoin SV was meant to join other high profile coins that are degraded to obscurity.
While it seem unlikely that SV will challenge BTC’s market capitalization anytime from now, with the genuine cryptocurrency commanding $58 billion to SV’s $1.9billion. If this trend doesn’t stop, BSV will flip stellar in the next 24 hours.
For BSV investors and those knowledgeable enough to buy Bitcoin Cash before the fork. The present price movement being experienced is enticing as crypto continues plummeting.