As you can see we have a lot of similarity in the 2017 and 2019 bubble. For the first time in history, the new bubble was lower than the previous one, which means that the new ATH at BTC may no longer be there. A lower peak means the start of a long downward trend that can last for many years.
And if Craig Wright has 1,000,000 BTC, then there may be such a sharp drop in BTC as the recent rise in BSV. No technical analysis will predict such an event. The growing war between BTC and BSV must be taken into account.
Please note that it doesn't matter which cryptocurrency fork was first. An example is Ethereum (ETH), where the dominant chain is the fork. This Ethereum Classic (ETC) is the first version, not dominating. In the case of Bitcoin, it can be the same. BSV is not yet a threat to BTC hashrate, but it may affect Bitcoin Cash (BCH). If most miners switched from BTC to BSV, then BSV will be the main chain and will be the dominant Bitcoin.
BSV is compatible with Whitepaper 2008 and solves all scalability problems that BTC has. BSV is an electronic Peer-to-Peer cash system, as Whitepaper is written. BTC developers have turned Bitcoin into a value store, Satoshi Nakamoto did not mention such a thing. To grow, Bitcoin must be used, not kept like gold . BSV will restore the global payment system, which was Bitcoin by definition.
@spammer21, I am BSV holder. Its my private opinion.
BitCapJNY
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Oh man... Well this is extremely depressing. Solid info, nice job... and most importantly, thank you
astromaniak
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@BitCapJNY, Keep your eyes open. BTC fans will tell people that BTC will cost a million dollars. BTC time is coming to an end. Of course, this does not mean the end of the crypto market.
@astromaniak lol bitcoin has so many institutional interest and regulated financial products yet its coming to an end? Doubt it. Bsv isn’t even listed on many exchanges
₿ is a fortified value store to some, and a reliable exchange method for others. Bitcoin adapts according to evolving perceptions as well as the use cases of individuals and institutions. Over time, volatility—like realized value—will normalize while other asset classes find themselves measured according to how correlated they are to ₿.