Bitcoin Cash hard fork was announced to take place on November 15th, which helped BCH with collecting significant gains at the beginning of November.
However, BCH soon started to drop, only a day before the hard fork took place. The hard fork resulted in having the main chain of BCH split in two.
One part represents Bitcoin ABC implementation reflecting on the price of Bitcoin Cash while the other part of the chain now represents a brand new currency made in accordance with the “original Satoshi vision.”
Thus the name Bitcoin SV (Satoshi Vision). Even though BSV started out with trading in the red at a very low rank, we can now see it joining the list of top cryptos as of November 26th.
Bitcoin SV Joins the Top Ten List with 94% of Gains in a Single Week
Bitcoin SV managed to take a massive leap towards reaching the spot of the 9th largest cryptocurrency in the market right below Tether (USTD).
Previously, on November 26th, Bitcoin SV went up by 11% in a daily bull run, marking 94% of gains on its weekly chart and pushing Litecoin (LTC) down to the spot number 9.
Two days later, the currencies are switching places as BSV is dropping by nearly -4% against the fiat, however, still marking over 80% of gains in the last seven days even with the present dips.
Since the rest of the market is rising against the fiat with the present positive market trends in the last 48 hours, and BSV is seen in a drop, Litecoin took its chance and got back to the spot number 7 on the list of global trading cryptocurrencies.
Bitcoin SV (BSV) – weekly chart – Coinlib
At the time when BSV was ranked as the seventh-largest cryptocurrency, Bitcoin SV actually marked its all-time high of 114$ per one unit, but the crypto soon went down despite the positive market trends.
Now ranked as the 9th largest cryptocurrency, BSV has a massive chance of sticking around the top 10 list of cryptos with the positive return of 88% in the last seven days.
After the latest drop in its value, Bitcoin SV is now traded at the price of 94$, going below the initial 100$.
How is Bitcoin SV Doing Since It Was Forked from Bitcoin Cash?
Bitcoin SV exists just a bit more over two weeks, with making its all-time high of 114$ two days back on November 26th in the middle of the dipping market.
Bitcoin SV is said to be preserving the original idea of Satoshi Nakamoto, the anonymous founder, or group of founders, of Bitcoin (BTC), the top and the original cryptocurrency.
In the course of the last 14 days, BSV is showing a negative return since it was created in the dipping market, dropping at over -40% in the last 14 days.
BSV is also dropping by nearly -4% in the last 24 hours, however, the positive return of -88% in a week is what’s keeping BSV among the list of top ten trading cryptocurrencies.
Image Credit: Chepicap
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