After an absolutely enormous price increase that Bitcoin SV demonstrated at the beginning of the year: 400% in less than two weeks of January and a 160% rise in one day - February 14, which might have been a very nice Valentine’s Day present for some of the most industrious traders, Bitcoin SV has predictably entered a period of retracement that is now gradually transforming into threat of a downtrend.
The price explosion of BSV was based mostly on the hype around the court hearing involving Craig Wright and a ridiculous saga of the lost private key to Bitcoin wallets, which allegedly hold as many as $9 billion worth of BTC. The press furor that surrounded this event has gradually died down, along with the pump of BSV, which now has to face the reality that is the coronavirus and the overall decline in both tradition and cryptocurrency markets.
Bitcoin SV chart depicting the last 90 days of price action
