Breaking: Bitcoin SV crashes to $40

Bitcoin SV

The chicken might be coming home to roost for Bitcoin BSV. The Bitcoin hard-forked token has just tumbled in price.

Yesterday, we reported that Bitcoin SV (BSV) was being manipulated by fake new scammers who trended a piece of breaking news that Craig Wright has moved some of the Bitcoins from the Satoshi Wallet.

On BitFinex, one of the major crypto exchanges supporting BSV shows that the crypto had a flash crash from an all-time high price of $254 to $44.

While the token regained its pricing, there are two scenarios playing out. There could be a mistake from a trader who mistakenly bided at $44 and it was matched in an open order or there are signs that BSV was being manipulated as feared by many people.

In our earlier reports yesterday, scammers whose intention is still uncertain, mimicked Coinbull, China’s largest cryptocurrency new site and claiming that Craig Wright, the man who claimed he was the Satoshi Nakamoto, the pseudonym for the Bitcoin originator. They simply lied that he has moved some of the Bitcoin in the first address created ‘Satoshi wallet’.

“CSW transferred 50k BTC from the biggest BTC wallet to Binance, which confirmed he is the real Satoshi. As such CZ will re-list BSV and make an official apology on Twitter,” says the scam message.

The shockwave the fake news item pushed up the price of Bitcoin SV, the altcoins forked by Craig Wright in September last year, went up by an added average of $60.

The entire Bitcoin SV has been in contention. The project was backed by Craig Wright. Two weeks ago, Craig filed a copyright registration for the original Bitcoin white paper. The filing is to declare him as the rightful author of the Bitcoin Whitepaper.

His claims have been countered many quarters in the crypto community. Many challenged to move some of the Bitcoins in the Satoshi Wallet. The wallet address contains over 16,000 Bitcoins, the first wallet Satoshi Nakamoto created during the creation of the project.