Bitcoin SV has spiked by over 33% in the last 24 hours and appears to have begun pumping on Sunday afternoon. The crypto is currently trading at $113.75 to the dollar but had soared to trade at a high of $121 in intraday deals.
Bitcoin SV (BSV) tanked more than 56% in trading last week after it had gone a mindless pump that saw it gain over 200 percent following news that the U.S. Copyright Office had recognized Craig Wright as the creator of bitcoin.
The 56% downside seen last week came after the U.S. government agency clarified that registration of copyright could be done by anyone and that the agency never recognized “anyone for anything.” Registering copyright apparently costs only $55.
Currently ranked 12th on CoinMarketCap, BSV prices have surged from a low of $60.71 on May 20 to today’s highs- gaining over 100% in the space of a week. The cryptocurrency’s market capitalization is $2.02 billion.
Over $528 million worth of BSV tokens has been traded in the last 24 hours, with data showing that the crypto has traded maximally against its pairs in BTC, tether (USDT) and the Korean Won.
Bitcoin SV is also rallying at a time Dr. Craig Wright has ratcheted his ante against Bitcoin. His latest anti-bitcoin tirade involves comments that bitcoin is on the verge of disappearing because it was only good for criminals. Craig has previously said that bitcoin was acting “outside the rules” and that it would stop.
While BSV has soared nearly three times higher than BTC, the overall price gains mirror the sentiment within the crypto market. Bitcoin (BTC) has surged to levels close to $9,000, rising over 10% on the day. Other cryptocurrencies have also surged with gains between 7 and 12.5%.