Dubbed the “Original Bitcoin”, BSV or Bitcoin Satoshi Vision is skyrocketing in the face of the crypto market crash that has taken place over the past 24 hours. BSV is certainly getting a lot of investor attention as it is not bothered by the simulated drop in the cryptocurrency market.
On Tuesday, BSV jumped to 24% or about $55.79; on the other hand, bitcoin (BTC) has fallen 11% in the last 24 hours, but has slightly decreased in price since Sunday.
The hard fork of Bitcoin Cash (BCH) led to the birth of the Bitcoin SV blockchains and the BSV token, which is called an improved version of the “Original Bitcoin”. Similar to bitcoin, but better, according to the creators of BSV.
Speed is said to be the ultimate strength of BSV. Bitcoin Satoshi Vision is described as providing 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 continue Satoshi Nakamoto’s vision of keeping transaction fees affordable or low for its users and dream of returning Bitcoin to its original form.
Even the BSV white paper is very similar to the Bitcoin white paper. Craig Wright, the founder of BSV, claims to be the creator of Bitcoin himself, but to date has been unable to substantiate this huge claim.
The creators of BSV see that the existing BTC protocol has huge flaws and is unreliable in its structure. Proponents of BSV believe that increasing Bitcoin’s block size could greatly increase the scalability of the network.
BSV rises against the backdrop of a fall in the cryptocurrency market
Launched over four years ago, BSV continues to skyrocket after the downturn in the cryptocurrency market. It is said that this was prompted by its listing on Huobi Japan, which will support the token and open up more opportunities for BSV in Japan, a wider and increasingly lucrative market. Heightened trading interest and support appear to have fueled the BSV’s rise.
BTC total market cap at $416 billion on the daily chart | Source: TradingView.com
BSV is currently 43rd the largest cryptocurrency by market capitalization, reaching $1.08 billion. However, while the token is skyrocketing, Bitcoin is still more valuable than BSV. Bitcoin lost over 51% while BSV lost about 56%.
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BSV appears to be outperforming other digital assets despite the crypto storm, but Bitcoin is king for a reason, as it holds its throne firmly.
Can BSV beat Bitcoin at its own game? Well, after all, there is only one king. Bitcoin may fluctuate and shake, but to this day, it remains unshakable.
Featured image from CoinGeek, chart from TradingView.com
Credit : www.newsbtc.com