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Best Performing Asset In May According To Analysts: Bitcoin SV

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Best performing asset in May this year turns out to be Bitcoin Satoshi Vision (BSV) after it broke out at the last half of the month. Let’s check the altcoin news for a broader analysis.

The crypto market went through rapid growth this month. The leading cryptocurrency got the most attention increasing by 67 percent and dipping into the $9,000 price range. Despite is the best monthly gain since 2017, Bitcoin is on the tenth position on the best performing asset list according to the data from Messari.io.

The total market cap of the entire market excluding bitcoin reflected the growth and reached $125.6 billion on May 30 which is the highest value recorded in the past 10 months. The performance of other assets, however, was much worse.

ETH’s pairing with BTC found itself unable to scale the 200-day moving average for the larger part of the month. It only increased by about 2 percent since the beginning of May whereas its USD pair is up by 60 percent in the same timeframe. The difference in price can be attributed to the bitcoin’s power rally inflating the USD value of most altcoins.

Bitcoin SV had a great run during May and was the leader of altcoins during the second half of the month. The altcoin reached the $100 price tag on May 21. The price also spiked further than $252 according to the Bittrex data and landed in the overbought territory triggering a pullback as noted in the latest cryptocurrency news.

The USV/USD pair remains bullish above the technical resistance level of $148 but there could be a strong close below the $90 support level in the coming weeks.

Bitcoin Gold, on the other hand, became the 5th best-performing asset for May outperforming other bitcoin forks such as Bitcoin private and Bitcoin diamond. BTG’s rising action is set to break down courtesy of the rising wedge and the long upper wick on the daily timeframe shows a high selling pressure noticeable above $30.

Holochain (HOT) managed to break the key resistance level at $0.0016 and increased by 57 percent in value before the prices reach $0.0027 at the end of the month. From here, HOT only went downhill. If the prices still continue to deflate, the buying pressure will likely bring HOT near to the $0.0016 price level.

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com

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Bitcoin SV News

Bitcoin SV Data Shows Volumes Are Heavily Manipulated

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Bitcoin SV Data
The Bitcoin SV data shows that the volumes for the cryptocurrency are heavily manipulated as per Timothy Peterson at the Cane Islands Alternative Advisors' recent findings which we are reading more about in the Bitcoin SV news. Bitcoin SV, led by the self-proclaimed Satoshi, Craig Wright, seems to have been heavily manipulated in its transaction data according to a report by Coinmetrics. Bitcoin SV data shows a lot of inconsistencies and controversies since its inception not only because it was created after the messy split of Bitcoin Cash blockchain but also because of the involvement of Craig Wright and Calvin Ayre. Looking at the data, Timothy Peterson noted that the average transaction time for the BSV chain is smaller than 1/10th of a cent. Also, the network currently reports that it handles around 700,000 transactions of the smaller transactions each day. The median transaction value for BSV is less than 1/10 of one cent. This is economically meaningless since Txns have soared to 700K/day which means that there are hundreds factional cent txns that are processed daily. This can also lead to two conclusions which means BSV is used to process almost a million micro-payments each day which eclipses the volume of the Lightning Network or the volume is being spoofed to fake activity bots. There are about 40,652 active BSV wallets which means it is highly unlikely that the transactions are genuine. Craig Wright claimed to be the anonymous creator of Bitcoin and for years he has been called out for that because he was unable to provide decent evidence to substantiate his claims and much of the proof he has provided has been discredited. With new data showing that the transactions are being faked on the chain, it also questions just how much usage the chain actually has. Most of the on-chain transactions on BSV came from the single weather app with as much as 96 percent of transactions from this one app. Bitcoin SV claims have a lot of apps but it seems that only the weather app is used at all. This app usage is weird as well and it is not that Bitcoin SV users are obsessed with the weather which is why the community called an intelligence test for the rest of the community because of the poor reputations of the supporters.
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Bitcoin SV News

Why Did Bitcoin SV Plunge By 40% From Its $450 High?

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why did bitcoin sv
Aside from the latest Bitcoin news which show that BTC is aiming at $9,000 next, there were many other altcoins seeing greens in this new rally. If you were following the news last week, you probably know that Bitcoin SV (BSV) was a major topic of discussion. But why did Bitcoin SV became a hot topic besides from exploding higher to a high of $440 - in a rally of 200% in only three days? As fast as this asset has rallied, so it has collapsed. This is something that many investors were afraid of - and something that happened. At press time, the third largest chain with "Bitcoin" in its name is down 18% in the past 24 hours and keeps on tumbling down. This is all in a period when Bitcoin is still growing and the ETH news show increases of up to 4% on the day. So, why did Bitcoin SV crash 40% from its local peak? With a current price of $264, BSV is definitely far from what many expected for its short-term trend. The crash certainly coincided with the news that Craig S. Wright - the primary proponent of BSV and a coder and entrepreneur who claims to be Satoshi Nakamoto - does not currently have access to a BTC stash he purports to have. BSV proponents even said that he will use the stash to dump BTC and promote their version of the chain. All of this has led to uncertainty on the market. As to why did Bitcoin SV fall, the controversial founder of the coin is the main person to blame for that. A report for Decrypt shows that Wright does not have the private keys which can be used to access the billions of dollars worth of BTC that Satoshi Nakamoto likely mined when he was one of the only Bitcoin users. One popular cryptocurrency analyst called Nicholas Merten (who is also the founder of the DataDash YouTube channel) argued that the recent surge in the altcoin may be based on questionable market activity - and thus may not last. https://twitter.com/Nicholas_Merten/status/1217196786663686145 All in all, many still don't know why did Bitcoin SV fall so much. However, the recent rally in the popular altcoin was definitely one based on emotion and not on rational thought.  
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Bitcoin SV News

Bitcoin SV Flips BNB As Feud With Binance Continues

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Bitcoin SV flips
Bitcoin SV flips the Binance Coin as the feud with the popular crypto exchange Binance continues as we are reading further in the Bitcoin SV news. BSV rallied in January and expanded its price by 50 percent and the proponents of the project even saw the project delivering something big for the coin in the upcoming months. So far, Calvin Ayre as the largest proponent of the altcoin announced the news that resulted in a pump in the price but nothing unusual happened according to the standards in the crypto space. The altcoin moved up the charts right after the pump and now Bitcoin SV flips the Binance Coin (BNB) after a busy weekend price action. The recent developments added a lot of heat to the already heated up feud between BSV supporters and Binance after the popular crypto exchange delisted BSV in 2019 because of Craig Wright’s lawsuit campaign against the prominent crypto Twitter figures. BSV is now standing at $162 and a volume of $1.1 billion with a lot of room for growth if the traders FOMO comes back with a pump. BSV also used the low-volume trick during the weekend to pull off the work on the regaining value. During the pump, the project continued to boost the claims that Craig Wright is the only, true inventor of Bitcoin despite the many pieces of evidence that claim the contrary and who choose to support the ‘’true vision’’ of the real inventor of Bitcoin in the form of Bitcoin SV. The asset didn’t manage to do a flippening with EOS as well that is now stagnated at around $2.62 so right now it seems that BSV stabilized over BNB which also slumped despite the charismatic effect of CZ. Bitcoin SV transactions have hosted twice as many transactions as Bitcoin in the past few months but the transactions have no guarantee of real adoption so they can be generated artificially. There are a few problems that BSV is facing that could have a huge impact on the asset’s price over the course of the year and the first one is the ongoing lawsuit against Craig Wright. Right now, the latest court rulings have stated that the judges are giving Wright up to February because of his ‘’bonded courier’’ to deliver the final key to access bitcoins that are held in trust. If it doesn’t arrive, it could have serious ramifications on Wright’s case and the claim that he is the real inventor of Bitcoin.
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Bitcoin SV News

The Tulip Trust By Craig Wright Boosts The BSV Price By 25%

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The development of the ongoing legal dispute that involves Craig Wright has led to him submitting 428 documents to the plaintiffs and the legal counselors marked the paper ‘’Tulip Trust III’’ as confidential. The developments led the BSV price to skyrocket by 25% as we are reading further in the bitcoin cash news. The price of the altcoin surged on Friday when the self-proclaimed Bitcoin creator provided the plaintiffs the documents with details about the trust that holds billions of dollars worth of bitcoin. The legal counselors marked the Tulip Trust documents as confidential and their decision raised suspicions that Wright was involved in the mining of the first batch of bitcoin along with Dave Kleiman. The BSV-to-dollar exchange rate established a new intraday high of $150.68 and the gains happened despite the low performance across the top ten cryptocurrencies:
“I’ll probably get sh** for this, but wow, BSV kicking a$$. Up considerably from where it was just a short while ago.”
The district court in Florida last year ordered Wright to pay more than 500K in bitcoin to the Ira Kleiman, the brother of the late Dave Kleiman after they found Wright guilty of stealing the funds through forgery. The controversial Craig Wright said that he and Dave locked all of the funds in a Tulip Trust that was digitally encrypted and added further that he had no access to the Trust since all of the information about it he will obtain on January 1, 2020:
 “As I’ve explained in court proceedings, I believe I will receive information in January 2020 that will enable us to identify coins I mined into my companies in 2009 and 2010, but cannot be certain that all of that information will in fact arrive.’’
A few days before the date, Wright told Bloomberg in an interview that the bond courier was supposed to deliver him the details of the Trust, never arrived. His comments sparked criticism from the crypto users and many called him a liar and a scammer. By filing the document in the court with the Tulip Trust name, the Bitcoin SV founder raised the possibility of having information about the lost coins. If they exist, he can prove that he was indeed a part of the team that invented bitcoin.
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