RATE Group | Bitcoin SV Will Lose Its Winnings to Top Rival Before May: Analyst
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Bitcoin SV Will Lose Its Winnings to Top Rival Before May: Analyst

11 Feb Bitcoin SV Will Lose Its Winnings to Top Rival Before May: Analyst

Posted at 15:46h in Bitcoin News by

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A dollar worth of Bitcoin SV (BSV) purchased at the beginning of 2020 now costs $266. But that has not deterred one analyst to predict a bearish scenario for the fifth-largest cryptocurrency.

Alex Saunders, the founder of Australia-based crypto outlet Nugget News, said an outperforming BSV could soon give up all its gains to its top rival asset, Bitcoin, explaining that the cryptocurrency rose on the hype created around its much-publicized hard fork, dubbed as Genesis, as well as its upcoming halving in April 2020.

The prominent analyst compared BSV’s performance with that of Bitcoin Cash (BCH). The latter also rose exponentially – by 123 percent – in 2020, beating bitcoin in terms of year-to-date performance. Like BSV, BCH’s gains also came ahead of its crucial halving event, scheduled for April 2020.

Buying the Hype

Mr. Saunders hinted that traders might have extended their bullish bias on BSV – as well as BCH – while ignoring bitcoin which allowed both altcoins to surge…

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