BSV/USD has had a wild day so far, starting out at 137.7. It dipped below $136 and then shot up to $140.15 very briefly. The crypto is now sitting at $140.28.
This has been a particularly eventful day for BSP, but it’s fairly indicative of how this digital asset has spent the last month. It experienced a significantly volatile week during last month’s final week, where we saw BSV exhibit both strong bullish and bearish trends. There was a lot of money to be made or lost during this unstable period, and Bitcoin Cash has continued to prove it’s one of the most interesting cryptocurrencies to watch.
BSV currently ranks #38 on the cryptocurrency charts, with about 0.19% of the market share and a trade volume over $600 million.
The Wider Market
The cryptocurrency market as a whole has not been terribly volatile recently. Original Bitcoin has managed a mostly downward trend the last few weeks, which is a similar story to what other cryptocurrencies are demonstrating. It’s the smaller, overlooked cryptos like Bitcoin Cash that are showing the most movement, with the biggest opportunities for major gains.
BSV was much more erratic in the early months of the year, but even now, there’s more activity going on with this currency from day to day than a lot of the competition. As original Bitcoin struggles with a Chinese mining ban, XRP is embroiled in an SEC lawsuit, and Dogecoin is losing popularity, BSV is worth watching.
The wider cryptocurrency market seems to be under attack, experiencing restrictive regulations throughout the world. This has resulted in a partial market migration to Singapore where restrictions are less severe for now. Currency exchanges and digital asset developers are both finding solace outside of the countries where their companies were founded. Ultimately, an increasing number of cryptocurrency regulations could be bad news for the market which has operated much like the Wild West for a long time.