The ongoing bear market has not taken mercy on the cryptocurrency market with several coins such as Bitcoin [BTC], Ethereum [ETH] and Bitcoin Cash [BCH] witnessing massive downward spirals. The time period during which the fall is taking place is commonly called the “crypto winter” and analysts and the experts in the crypto verse are predicting its long run.
At the time of writing, Bitcoin Cash [BCH] which has been separated from Bitcoin SV after the hard fork, has been sliding by 12.04%. The cryptocurrency was trading for $124.26 with a total market cap of $2.173 billion. BCH’s $108.878 million market volume was predominantly held by Upbit, with a total grasp of 12.58% of the entire BCH trade. Upbit was closely followed by Binance, on which $11.820 million worth of Bitcoin Cash transactions took place.
One of Bitcoin Cash’s major proponent, Roger Ver, was also in the spotlight recently when he spoke about the mainstream adoption of cryptocurrencies in today’s financial scenario. He had said:
“That’s the goal with the Bitcoin cash both the ABC camp and SV camp and I wish every cryptocurrency good luck if they’re trying to bring more economic freedoms the world by making them useful as currencies for the world. So I wish everybody good luck.”
The other product of the Bitcoin Cash hard fork was Bitcoin SV, a token that had garnered a lot of publicity because of nChain’s Craig Wright and Calvin Ayre. During press time, Bitcoin SV was the only cryptocurrency in the top-10 club that was riding a bullish surf.
On a 24-hour scale, BSV was growing by a substantial 6.27% and was trading for $91.87. BSV also had a market cap of $1.605 billion and 24-hour market volume of $80.682 million. A majority of the trade was occupied Binance with a hold on 12.83% of the total BSV transaction.
Craig Wright has made sure to push Bitcoin SV into the mainstream fore, with new tweets informing users that he has a ‘manifesto’ ready for 2019. He had said:
“ In 2019 we will start to teach people how to build real SPV systems. No fraud proofs, secure, instant. It was hinted at in the whitepaper, but nobody has managed to get it. So, I will do it for you. I had hoped others would hae understood and run with this but…”
He followed it up by saying:
“There is no more time. Clearly, it seems that the simplest things are hardest. SPV is P2P and has no server”.
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