Bitcoin Satoshi’s Vision (BSV) has seen the lion’s share of attention in the cryptocurrency news circles this month. It was one of yesterday’s top-performing altcoins and an approaching hard fork could be driving momentum.
BSV has topped $300 again in a 12% price pump that makes it one yesterday’s top-gaining cryptocurrency assets. The Bitcoin offshoot is one of 2020’s best performing digital currencies with a surge of 230% in the past 30 days.
Previous gains were all tied to rumors that Satoshi claimant Craig Wright had access to a ‘Tulip Fund’ containing millions of dollars’ worth of Bitcoin from mining during the early days. The pump was then revealed to be a lot of wash trading by dodgy exchanges, but is it happening again?
![Bitcoin SV BSV Craig Wright](https://beincrypto.com/wp-content/uploads/2019/11/bic_bsv.jpg.optimal.jpg)
BSV Hard Fork Momentum
On Feb 4 Bitcoin SV is set to hard fork as close as possible back to the original Bitcoin protocol. The fork, codenamed ‘Genesis,’ has been described as a restoration rather than an upgrade according to the official announcement. The publicity video by founding president Jimmy Nguyen claims that the move will enable;“A world where data, transactions and digital activity of all types can be “on-chain” on a single public blockchain, just like the world operates online on a single public Internet.”What follows is more veneration of the project which still claims to be the original Bitcoin. The hard fork will essentially achieve three major changes.
![BTC BCH BSV](https://beincrypto.com/wp-content/uploads/2019/07/shutterstock_btc_bch_bsv.jpg.optimal.jpg)
Market Reaction
This may all be another ploy to garner attention for the oft-considered failed BTC offshoot. The cryptocurrency community is deeply divided and most are of the opinion that BSV is a scam coin. Many major exchanges, such as Binance, don’t even list the fifth-largest cryptocurrency by market cap. BSV prices have already started to move in anticipation of the hard fork, but in all likelihood, it will dump again as soon as it has been executed. It has already lost 30% since the Tulip Fund pump last week and high volumes on spurious exchanges are highly questionable.
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Martin Young
Martin Young is a seasoned cryptocurrency journalist and editor with over 7 years of experience covering the latest news and trends in the digital asset space. He is passionate about making complex blockchain, fintech, and macroeconomics concepts understandable for mainstream audiences.
Martin has been featured in top finance, technology, and crypto publications including BeInCrypto, CoinTelegraph, NewsBTC, FX Empire, and Asia Times. His articles provide an in-depth analysis of...
Martin Young is a seasoned cryptocurrency journalist and editor with over 7 years of experience covering the latest news and trends in the digital asset space. He is passionate about making complex blockchain, fintech, and macroeconomics concepts understandable for mainstream audiences.
Martin has been featured in top finance, technology, and crypto publications including BeInCrypto, CoinTelegraph, NewsBTC, FX Empire, and Asia Times. His articles provide an in-depth analysis of...
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