Bitcoin Flippening: BCH Overtaken By Satoshis Vision BSV

Thursday 16 January 2020, 1:00 AM AEST - 8 months ago

Bitcoin SV, BSV price

Bitcoin SV is surging through the crypto market cap rankings. Here's why. | Image: shutterstock.com

  • Bitcoin battle becomes three-way shootout as BSV replaces BCH as fourth-largest capped cryptocurrency.
  • BSV has been on a tear all week – seven-day gains stand at 286%.
  • But is there any substance behind BSVs market growth?

A Bitcoin flippening was witnessed for the first time this week as Bitcoin Cash (BCH) was replaced by Bitcoin SV (BSV) as the worlds fourth-largest capped cryptocurrency.

The BSV Flippening

BSV gained over 100% on Tuesday alone, eventually topping out at $452 per coin on Wednesday according to TradingView.

Bitcoin SVBSV surged to a high of $452 before a slight drop off, | Source: Trading View

Pulling back to the weekly view, we see that BSV has been on a tear all week. The coins gains for the past seven days stand at a whopping 286%. That saw the coin price rise from $117 up to the $452 recorded on Wednesday.

Bitcoin SVBSV recorded 286% growth over the course of the week. | Source: CoinMarketCap

Bitcoin SV – led by self-proclaimed Satoshi Nakamoto, Craig Wright – was created in November 2018 as the result of a hash-war.

Controversy has followed the coin since its inception, leading many to assume the worst about Bitcoin SVs current pump. rang around skeptical circles of social media.

But BSV supporters are celebrating what they see as the first step in an eventual victory over other Bitcoin imitators.

Bitcoin Cash had held onto fourth spot in the cryptocurrency market cap rankings for some time – only briefly being replaced by an inflated Tether (USDT) on occasion.

Three-Way Shootout?

Now, the rise of BSV turns the ongoing Bitcoin battle into a three-way shootout. As CoinGeek CEO Calvin Ayre retweeted on Wednesday, the BSV blockchain:

Calvin Ayre and BSV supporters celebrate the blockchains ability to support high usage. | @Satoshis_D, Twitter

Indeed, . That said, compared to its competitors.

BSVs sudden ascension is doubly surprising given its earlier this year.

The real reas ...

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