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Bitcoin SV [BSV] sees exponential growth following Exodus Wallet addition




Bitcoin SV [BSV] sees exponential growth following Exodus Wallet addition
Source: Pixabay

After being booted out of the top-10 on the global coin ladder on February 6, following a remarkable rise by Binance Coin [BNB], Bitcoin SV [BSV] is looking to make a comeback following its addition to the services of the Exodus Wallet.

Bitcoin SV fell to a dismal $58.15 following the news of an alleged child abuse picture making its way to the BSV blockchain after an update by node developers. In addition to the illegal content issue, a rift broke out between BSV proponent Craig Wright and Hard Fork, the media house that published the story prior to the steady decline of the BSV price.

Representatives at Bitcoin SV have since addressed the issue and even issued a warning to culprits who upload such material on their network.

After Bitcoin SV was replaced on to top-10 with Binance Coin, Exodus the desktop virtual currency wallet announced its support of the now 11th ranked crypto, via a tweet. The wallet will provide support in exchanging, sending, and receiving Bitcoin SV. In addition to this, any transaction export and personal and notification support will also be rendered.

Exodus provides support for Windows, macOS, and Linux and has announced that a mobile version of their wallets will be hitting the Apple Application Store in 2019.

The price chart of Bitcoin SV has no doubt responded with a sharp green rise, which saw the price of the cryptocurrency rise from $58.65 at around 1500 UTC on 6 February by a whopping 18.51 percent to $69.51 in a matter of a few hours when the announcement was made and the collective market began correction following the bearish swing.

Bitcoin SV was on a significant downtrend beginning as early as February 3, when the price of the coin began to decline with no respite. The price of BSV fell from $66.66 on the aforementioned date by 12.76 percent to a low of $58.15, its lowest price-point since the end of November.

The bullish swing of the Exodus high is now in full motion with the coin on an uptrend as the price looks to climb away from the support level of $58 which the coin set with the recent low. At press time, the price of Bitcoin SV has declined slightly due to correcting factors and is now pegged at $64.74, which the coin last touched on February 4.

Bitcoin SV’s market capitalization has also managed to climb significantly above the $1 billion mark, after only managing to just stay above on February 6. The coin saw an increase of 16.42 percent in its market cap from $1.023 billion, in danger of slipping below the $1 billion mark to $1.191 billion, well above it.

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Bitcoin prices hit $150 billion market cap for the first time in 2019 as prices pump by 11%




Bitcoin prices hits $150 billion market cap for the first time in 2019 as prices pump by 11%
Source: Unsplash

Bitcoin’s parabolic rise that started in April seems to be staggering as the increase in price vs. the number of days it took to increase was surprising, considering the prolonged bear market.

The recent pump on May 27 at 23:30 UTC [+5:30] pumped the price from $7.995 to $8,939 in 7 hours with each green candle forming one after another. However, the price reached a peak at 05:30 UTC [+5:30]. After which the price declined by 2.85%.

Source: TradingView

Moreover, at press time, the market cap of Bitcoin has reached a new high, i.e., $154 billion and the price reaching $8,900 is a new all-time high of Bitcoin in 2019. Bitcoin’s total rise YTD was 146% and in a 24-hour time frame, the price of Bitcoin was up by 8.71%.

Meanwhile, altcoins have also followed suit as Ethereum pumped by 7.21%, XRP by 7%, Bitcoin Cash by 9.53%, Litecoin pumped the most in top 10 as it was up by 11.23% in 24-hours. Tron, the eleventh largest cryptocurrency pumped by 13.84%, at press time.

Anthony Pompliano, a well-known Bitcoin enthusiast tweeted:

“Someone check on @nouriel. Bitcoin seems to be coming back with a vengeance ever since he blocked most of Bitcoin Twitter.”

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