Bitcoin SV plunges 42% from 2020 highs: Lawyer reveals Craig Wright has no private keys


  • Craig Wright’s court battle takes a different turn; the lawyer reveals that the file he received did not contain private keys.
  • Bitcoin SV plummets from January peak at $458 to the market value of $264.

Bitcoin Cash (BCH) rival, Bitcoin SV (BSC) continues to hit controversy after controversy under its lead developer, Craig Wright. The recent rally across the cryptocurrency industry saw surge incredible from lows around $100 to highs of $458.

However, the digital asset did not sustain the growth and the price embarked on a gains trimming exercise that is still underway. From the levels above $450, BSV is barely able to hold above the support at $260.

Craig Wright’s ongoing court battle has been singled out to be the main force behind the losses. Last week the case took a different turn and pushed nails into his claim of being the “real” creator of Bitcoin.

Wright promised a “bonded courier” of evidence to be used in the multimillion-dollar court case, proving that he is indeed Satoshi Nakamoto. However, his lawyer revealed that the file he received did not have private keys.

At the time of writing, BSV is trading at $264 after bouncing off the support at $250. The bulls are attempting to force recovery after suffering in the wake of Wright’s news hitting the public.

BSV/USD daily chart

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin Price Analysis: BTC bulls may hit a brick wall on approach to $9,800

Bitcoin (BTC) extended the recovery to trade at $9,750 at the time of writing. The first digital asset bottomed at $9,300 on February 19 amid massive sell-off and managed to regain some ground since that time. 

More Bitcoin News

Ripple Price Weekly Forecast: XRP/USD road to $0.35 mapped

As the week grinds toa halt, cryptocurrencies are rolling in a positive direction. The positive resonation comes after a couple of days that saw bulls paralyzed in the cryptocurrency market.

More Ripple News

Cardano launched hardfork OBFT; ADA/USD extends the recovery

Cardano (ADA), now the 11th largest digital asset with the current market value of $1.5 billion, has gained 2.7% in recent 24 hours to trade at $0.0590 at the time of writing.

More Cardano News

BCH/USD sprints to $380 amid development tax disagreements

Bitcoin Cash explored the region at $350 as I discussed in the previous article. However, the bulls quickly entered the market ready to buy low and push the price upwards. BCH/USD is already in the green ...

More Bitcoin Cash News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: BTC bulls plot the revenge

Bitcoin's market capitalization settled at $176 billion, which is 62.8% of the total digital assets market.

Read the weekly forecast

BTC

ETH

XRP