Bitcoin SV: Miners Holding Reserves May Undermine Price

Bitcoin SV (BSV) Held as Reserves, Miners Selling May Undermine Prices

The current price spike for BSV may be based on a tendency to hold onto the coins, as selling would tank the market price.

Bitcoin SV (BSV)may be boosted by loyal miners, which hold onto the coins. According to reports, as much as 50% of the block rewards have been kept in storage.

https://twitter.com/alistairmilne/status/1195011811843686401

BSV, the asset that branched from Bitcoin Cash (BCH) almost a year ago, went on to split as a new type of coin. The network relies on the loyalty of miners, which are supposed to provide the hardware and readiness to propagate extremely large blocks.

BSV currently trades at $126.17, remaining relatively stable. The asset has reached above $532 million’s equivalent in daily volumes, despite the lack of markets on Binance. BSV has built up a robust community in China and Korea, despite the criticism about promoting Craig Wright’s narrative.

At this point, BSV’s support of the hoard of coins is the expectation that the asset’s price would spike at the start of 2020. Wright, despite his absence from social media, has apparently hinted at a concerted attack against Bitcoin (BTC), potentially leading to a spike in BSV prices.

https://twitter.com/TheBitcoinTramp/status/1194163967989600256

The chief selling point for BSV is that it would manage to displace the leading asset and become the de facto Bitcoin. Claims are made that the idea may have some supporters, though for now BSV remains an altcoin.

https://twitter.com/derekm00r3/status/1194797022865436673