Bitcoin SV overtakes Bitcoin Cash: The final flippening?
Bitcoin SV defies the bear market. With a daily plus of a whopping 19 percent, the Bitcoin Cash Hard Fork puts all other crypto currencies in the shade.
"In the shadows" Bitcoin SV originates above all: While the Bitcoin cash price had to lose about 50 per cent since the end of November, Bitcoin SV settled down around the 100 US dollar – tendency rising.
Is this the end of Roger Vers Vision from Bitcoin? Will this Flippening be final and will Bitcoin SV possibly even compete with Bitcoin itself?
What we can learn from the past
There is no Kirstallkugel available to the crypto market, but often you can learn a lot from the past. History does not repeat, but sometimes it rhymes. For emotional, spring-reading hard forks, there have been precedents, namely Bitcoin Cash and Ethereum Classic. Interestingly, similar developments occurred in the early stages of these two new cryptocurrencies.
Bitcoin Cash, in the meantime even a candidate for the second place in the Top 10, could develop in September 2017 completely opposite to BTC:
While the mother of all cryptocurrencies had to cope with price losses of about 20 percent, the Bitcoin cash price multiplied. At that time there were also rumors about a possible Flippening. The hash rate should go to Bitcoin Cash and end up killing Bitcoin at a bottomless hashing rate. The story, however, developed differently.
Looking further into the past, we meet Ethereum Classic. Ethereum Classic is a hard fork that formed as part of the DAO exploit. Here, too, the Ethereum Classic course was able to counteract the Ethereum course in the short term:
Here again the same pattern: Ethereum collapsed dramatically, losing almost half of the stock price, while Ethereum Classic almost doubled its. Ethereum Classic, at the time ranked number 5 in the market capitalization, did not completely disappear, but currently ranks in 13th place and fell back to the then all-time high.
What makes the Bitcoin SV situation special
The current situation is certainly new: Bitcoin SV is not just the hard fork of a cryptocurrency, but split itself from a secession – even in a dramatic bear market. The above charts and the further development of Bitcoin Cash and Ethereum Classic still show very well that it is still too early to speak of a sustainable flip-flop.
Which of the two visions from the bear market emerges as the final winner remains to be seen. All ideological opinions of the brand "BCH vs Bitcoin SV" put aside, one can say for those who had before the Hard Fork Bitcoin Cash on their own wallet, at least that "thanks" Bitcoin SV a part of the losses was compensated.
Be sure not to miss any important news related to Cryptocurrencies! Follow our news feed in the way you prefer; through Twitter, Facebook, Telegram, RSS or email (scroll down to the bottom of this page to subscribe). Bitcoin never sleeps. Neither do we .
Síguenos en Telegram