June 6, 2023

The price of Bitcoin SV has increased by more than 100%, what is the reason for the increase?

The price of Bitcoin SV has increased by more than 100%, what is the reason for the increase?

While Bitcoin owners celebrated an asset growth of 8% with a maximum at around $ 8,880, other cryptocurrencies there was also something to please their investors.

The most notable was the BSV, which managedOutperform BCH in the cryptocurrency rating by moving the competitor to fifth place. During the day, BSV added more than 150%, rising to $ 350. Perhaps the growth is due to the growing hype around the main supporter of the project, Dr. Craig Wright, an Australian programmer who claims to be Satoshi Nakamoto. For a while, the coin even managed to rise above $ 430.

So, last night a document appeared on the Internet,affiliated with a business in the Southern District of Florida. It relates to the ongoing legal battle between Ira Kleiman, the brother of the late Dave Kleiman, and Wright.

The document was published on the basis of Wright’s claims that he allegedly owns hundreds of thousands of BTC mined in the early days of the network. To unlock them, just do not have enough private key.

Analysts are now questioningdata legitimacy because Wright and his team have no evidence of this information. CryptoISO, a trader, jokingly hinted on Twitter that it was this news that pushed BSV higher.

Although there seems to be a clear correlation betweendistribution of the document on Twitter and the latest price increase on BSV. At the same time, this growth is unlikely to last long, since the rally is more likely based on emotions rather than rational actions.