The cryptocurrency market made waves again on Tuesday. Driven by the crazy upward rush of bitcoin SV, the market rebounded strongly as a whole.

The market value of bitcoin SV has exceeded that of the major cryptocurrency exchanges

According to bitcoin data, bitcoin SV has almost doubled in the past 24 hours. At present, the price has reached around us $327, and the market value has reached the fourth place, second only to bitcoin, Ethereum and XRP.

The bitcoin option launched by CME exchange this week and the halving of bitcoin block reward in May can be regarded as important factors to promote the rise of bitcoin, the cryptocurrency with the largest market value. Finally, bitcoin broke through US $8800 on Tuesday, the highest point in two months, which also led to a slight rebound in the whole encryption market.

However, for bitcoin SV, soaring and plummeting seem to be common. As early as the spring of 2019, when the encryption market recovered slightly, bitcoin SV soared many times and attracted market attention. However, the analysis of the reasons behind it is often related to Craig Wright, who claims to be the creator of bitcoin.

This is no exception. The industry believes that there are three possibilities for the sharp rise of bitcoin SV on Tuesday.

First, Wright submitted the third tulip trust court document. The statement that he can get billions of dollars of bitcoin private key through “bonded express” this month has been accepted by more and more supporters. Secondly, cryptocurrency supporter clavin Ayre previously promised to release a big news about bitcoin SV on January 11. Although he did not release the news in the end, it excited speculators. Finally, last week, the market value of bitcoin SV exceeded the original token of the main cryptocurrency exchange and the coin security exchange that delisted bitcoin SV, and its market value has entered the top four.

At present, there are only 19 days left before the deadline for the court to require Wright to provide bitcoin access. We still don’t know what will happen to bitcoin SV when the tide goes down.

Responsible editor; zl

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