Bitcoin SV Soars but Thin Volume Hints Huge Crash Ahead

Bitcoin SV (BSV) was among the major gainers this week as a macro bullish move pumped all the leading Bitcoin rivals.

The fifth-largest cryptocurrency by market capitalization swelled 14.88 percent since Wednesday’s open, establishing a week-to-date high of $311.27. The move uphill came after days of choppy price actions which, in turn, followed a huge pump-and-dump action past mid-January, as shown in the chart below.

The BSV/USD price at best looks choppy | Source: TradingView.com, Coinbase

Think Bitcoin SV Volume

The wild moves in the BSV/USD trade market came despite a lack of big volumes. In retrospect, less number of BSV traders changed hands on its active spot markets. They were visibly lesser compared to Bitcoin SV’s rival cryptocurrencies. However, its standard deviation, which measures volatility, was surging on all the exchanges.

The huge difference between Bitcoin SV’s volatility and volume prompted experts to doubt the credibility of its recent gains. Atop that,…