According to the CoinMarketCap, the two proposals of the last Bitcoin fork of November 2018 have taken advantage of the possible start of a bullish rally for the market in general, which has achieved double-digit growth in their prices of the main altcoins driven by the recovery of prices of the leading asset.
Bitcoin Cash (BCH), Roger Ver’s proposal, is trading at a spot price of USD 326.17, with an increase of + 21.99% at the time of writing this article, while Bitcoin Satoshi’s Vision (BSV) has dramatically increased its price up to USD 327.97, a surprising + 91.27% that has driven it to the fifth position of the general ranking, with just 18 million dollars apart from its closest competitor, in terms of market capitalization.
BCH has maintained the fourth position for a few months thanks to the gains reported during the market price increase last July, when the cryptocurrency gained more than + 6% of its value on the last day of that month, which allowed it to quote an intraday high of USD 337.00, making it the fourth-largest digital asset by market capitalization with about USD 5.8 billion to date.
Since then, the cryptocurrency has won, despite the low prices, about USD 1,943 million, which have allowed it to remain in the fourth position for more than a semester, at 50% of the total value of the Ripple (XRP) token, which is in the third position.
BSV Seems Ahead of BCH
If the growth of Bitcoin Cash came to a halt for a few moments, its closest rival Bitcoin SV could successfully overtake it once again in the fourth position, after a similar event occurred temporarily in November 2018.
In the past few days, Bitcoin SV already boasted of entering the top ten of the market, dethroning Binance Coin (BNB) from the sixth position. Now at such a small difference in market capitalization of BCH and with the exponential growth of almost three digits in a single day, it seems a matter of time before BSV takes the place currently occupied by its direct rival.
To make matters worse, the market capitalization of BSV has almost increased by another 90 percent in recent days, which has allowed the 18 million circulating BSV coins to now have an estimated value of USD 5.925 billion.
Bitcoin SV is building its successful path and it seems a matter of time before the cryptocurrency, which was once censored by some exchange houses and mocked by influential people in the crypto space, manages to displace Bitcoin Cash as the most important Bitcoin fork in terms of capitalization.
For the moment, the cryptocurrency is demonstrating that a good moment of the market means a high return for the investors that entered during low prices, and many are already beginning to look at the altcoin season, which could generate good feelings for those that have do Hodl.
In general, the crypto market has grown + 8.52% in the total market capitalization of the entire ecosystem by reaching USD 235.72 trillion, where 82 percent of the currencies are on the rise as the Bitcoin dominance decreases below -1.36%.
By Alexander Salazar