Dubbed the “Original Bitcoin”, BSV or Bitcoin Satoshi Vision is surging in the face of a crypto market crash seen in the past 24 hours. BSV is certainly getting a lot of attention from investors as it remains unfazed by the simulated decline of the crypto market.
BSV shoots 24% or around $55.79 on Tuesday; on the other hand, Bitcoin (BTC) has fallen by 11% in the past 24 hours but has declined somewhat in value since Sunday.
A Bitcoin Cash (BCH) hard fork spawned the emergence of Bitcoin SV blockchains and the BSV token, which is referred to as the advanced version of “Original Bitcoin”. Similar to Bitcoin – but better as the creators of BSV claim.
Speed is BSV’s ultimate strength, they say. Bitcoin Satoshi Vision is described to enable incredibly fast and scalable transactions.
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BSV has shot up to 24% or around $55.79, Tuesday. Source: BSC News.
BSV – The original bitcoin?
The Bitcoin SV blockchain and its token pursues Satoshi Nakamoto’s vision of keeping transaction fees affordable or low for its users and dreams of returning Bitcoin to its original form.
Even BSV’s white paper looks a lot like Bitcoin’s. Craig Wright, the founder of BSV, claims to be the creator of Bitcoin himself but has been unable to substantiate this huge claim to date.
The creators of BSV see how the existing BTC protocol is extremely flawed and unreliable in its structure. BSV proponents believe that improving Bitcoin’s block size can significantly increase the chain’s scalability.
BSV Soars Amid Crypto Market Decline
Launched over four years ago, BSV continues to soar following the decline of the crypto market. This was reportedly fueled by its listing on Huobi Japan, which will support the token and open up more opportunities for BSV in Japan, a larger and increasingly lucrative market. Increased trade interest and support appears to have triggered BSV’s gains.
BTC total market cap at $416 billion on the daily chart | Source: TradingView.com
BSV is currently 43rd largest cryptocurrency by market cap, reaching $1.08 billion. However, although the token is skyrocketing, Bitcoin is still more valuable than BSV. Bitcoin was down over 51%, while BSV lost around 56%.
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BSV seems to have outperformed other digital assets despite the crypto storm, but Bitcoin isn’t king for nothing – as it holds its throne firmly.
Can BSV beat Bitcoin at its own game? Well, there is only one king, after all. Bitcoin can be shaken and shaken, but it remains unassailable to this day.
Featured image from CoinGeek, chart from TradingView.com