Bitcoin Cash SV [BCHSV] will be delisted from Binance on 2019/04/22 at 10:00 AM UTC. However, the withdrawal of the cryptocurrency from the wallets will be enabled three months from April until 2019/07/22 at 10:00 AM UTC.
Price of Bitcoin SV Falls Instantly
The price of Bitcoin SV fell by 8% instantly as the world’s largest exchange decided to delist the cryptocurrency. A gap has been noticed in the 4-hour chart followed by a bearish breakout. It suggests that more downside can be expected in BSV if the bearish pressure catches on.
The price of Bitcoin SV [BSV] at 15: 00 Hours on 15th April 2019 is $64.23. It is trading 8.79% lower on a daily scale.
However, this doesn’t come as a surprise move because Binance CEO, Changpang Zhao, popularly known as CZ had issued a warning on Twitter on 12th January 2019 that Binance would de-list BSV if Craig Wright continues to claim himself being the real ‘Satoshi Nakamoto.’
Even this morning CZ tweeted by saying that:
“Lastly, anyone who supports BSV from a tech perspective should be attacking the fraudulent Craig Wright, who is poisoning YOUR community, and not attack the rest of the world.
Anyone thinking CW is Satoshi should read about how a private key works, ie, learn about crypto. “
The parameters in which Bitcoin SV [BSV] failed to meet Binance’s standards were probably,
- Contribution to a healthy and sustainable crypto ecosystem
- Evidence of unethical/fraudulent conduct
Do you think Binance made the correct decision? What will be the approach of the Bitcoin SV community now?
1- Do not invest in every ICO – most of them are a scam.
2- Crypto is a heavily manipulated commodity and the price can change at any moment.
3- The creation cost of a coin represents the “wholesale” price – It is always better to buy when the price is close to the creation cost.
4- Crypto has a natural cash flow that dictates the selling pressure. Like, 1800 bitcoins are mine each day so 1800 bitcoin must be bought at the current price (“means market needs new $18 millions of investment every day if the price is $10,000 to maintain the current price“).
5- Patience and timing are key to making a profit:
Buy, when the price is close to the creation cost.
Sell, when the price is way high off the creation cost.