‘Original Bitcoin’ Makes Surprise 24% Climb As Crypto Markets See Red

Christian Encila

Last Updated: June 11, 2024 7:01 am

3 mins read

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Dubbed to be the “Original Bitcoin,” BSV, or Bitcoin Satoshi Vision skyrockets in the face of a crypto market crash seen in the past 24 hours. BSV is certainly generating a lot of attention from investors as it remains unfazed by the malingering crypto market decline.

BSV shoots to 24% or roughly $55.79 on Tuesday; on the other hand, Bitcoin (BTC) has spiraled down by 11% over the past 24 hours but somewhat diminished in value since Sunday.

A Bitcoin Cash (BCH) hard fork sired the emergence of the Bitcoin SV blockchains and the BSV token, which is referred to as the advanced version of the “Original Bitcoin.” Similar to Bitcoin – but better as the BSV creators claim.

Speed is the ultimate strength of BSV, they say. Bitcoin Satoshi Vision is described to enable incredibly fast and scalable transactions.

BSV has shot up to 24% or around $55.79, Tuesday. Source: BSC News.

BSV – The Original Bitcoin?

The Bitcoin SV blockchain and its token continue Satoshi Nakamoto’s vision to keep the transaction fees affordable or low for its users and dreams to revert Bitcoin to its original form.

Even BSV’s whitepaper closely resembles Bitcoin’s. Craig Wright, the founder of BSV, claims to be the Bitcoin creator himself but has not been able to substantiate this humongous claim as of today.

The BSV creators see how the existing BTC protocol is hugely flawed and unreliable in structure. The BSV proponents believe that improving Bitcoin’s block size can immensely ramp up the chain’s scalability.

BSV Soars Amid Crypto Market Decline

Launched over four years ago, BSV continues to go sky-high in the wake of the decline in the crypto market. This is said to have been fueled by its listing in Huobi Japan, which will support the token and open more opportunities for BSV in Japan, a wider and increasingly lucrative market. The increased trading interest and support seem to have triggered BSV’s gains.

BTC total market cap at $416 billion on the daily chart | Source: TradingView.com

BSV is currently the 43rd biggest cryptocurrency in market capitalization, beaming at $1.08 billion. However, although the token is soaring, Bitcoin is still more valuable than BSV. Bitcoin has shaved off over 51%, while BSV has lost around 56%.

BSV appears to have been outperforming other digital assets despite the crypto storm, but Bitcoin isn’t the king for nothing – as it firmly holds its throne.

Can BSV beat Bitcoin on its own game? Well, there is only one king, after all. Bitcoin may be rattled and shaken, yet it remains unassailable to this day.

Featured image from CoinGeek, chart from TradingView.com

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.