Bitcoin SV and Bitcoin Cash continue to face down after the community was “toyed” by Craig Wright

Bitcoin SV became the focus of the news series last week after an impressive rally. However, the BSV plunged 17% overnight and is now down more than 40% from this week’s high. Furthermore, Craig Wright’s lawyer has now said that Wright does not have access to Bitcoin private keys, contrary to recent rumors.

Wright has no private keys

The past 24 hours have been really hard for BSV hodlers, who had seen huge gains in the past week when Craig Wright’s lawsuit, made new revelations.

After Wright promised to prove he was in control of funds related to Bitcoin creator Satoshi Nakamoto, BSV has risen to an all-time high of $ 459.

The Bitcoin SV rally earlier this week was mostly due to significant speculation. After announcing the ownership of a private key for $ 9 billion Bitcoin, there have been rumors that Craig Wright might be about to liquidate significant amounts of Bitcoin and instead invested all in Bitcoin SV, the money that he supported wholeheartedly. Therefore, the price of Bitcoin SV increased.

This entirely depends on whether Wright has control over the holdings of Bitcoin. However, Wright was disappointing. After what he described as a bonded courier company, presented evidence in a legal battle worth millions of dollars to confirm his identity, Wright’s lawyer later confirmed that it contained no personal information at all,
means that Wright does not own Bitcoin private keys.

One user listed Wright’s series of FUD trolls on Twitter and said that the list would continue.

Bitcoin SV and its brother plummeted

The price of Bitcoin SV has collapsed once again on this news. The Bitcoin fork has plunged to $ 254 after having been trading at an all-time high of $ 459 this week.

Bitcoin SV dropped about 40% from its weekly high on January 15. It will be interesting to see what’s next week for Bitcoin SV, especially when cryptocurrency price movements seem to be increasingly linked to the latest news regarding Craig Wright.

Source: Trading View

Following this latest development, BSV fell out of the top 4 market capitalization. Bitcoin Cash, meanwhile, is also affected by Craig Wright’s ridiculous joke, which has dropped about 10% in the past 24 hours. BCH is currently trading at $ 349, marking a sharp decline from $ 403 recorded in the past week.

Source: Trading View

Disclaimer: This is not trading advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.

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