RATE Group | Bitcoin SV Spiked 17% Today: But There’s a Key Reason It’s Not Sustainable
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Bitcoin SV Spiked 17% Today: But There’s a Key Reason It’s Not Sustainable

10 Jan Bitcoin SV Spiked 17% Today: But There’s a Key Reason It’s Not Sustainable

Posted at 21:17h in Bitcoin News by

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Bitcoin SV, a somewhat controversial hard fork of Bitcoin Cash, has suddenly spiked by as much as 17% intraday following legal developments in the Craig Wright legal battle with the late David Kleiman.

However, there is one important lingering factor that could cause this rally to run out of steam and eventually lead to a lot more downside in the future.

Bitcoin SV Explodes With 17% Gains, Following Legal Update

Avid Bitcoin SV supporter and the face of the cryptocurrency, Craig Wright has long been embroiled in a legal battle with the estate of his former business partner David Kleiman. The legal turmoil has been closely followed by the cryptocurrency community at large as well as Bitcoin SV supporters.

Wright is being sued by Kleiman’s brother Ira for his brother’s portion of the 1.1 million BTC mined by Satoshi Nakamoto – the mysterious founder of the original Bitcoin that Wright claims to be.

Wright claimed in a document called “Tulip Trust” that the keys to the Bitcoin…

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