More

    Latest Social Media Research: Altcoin Mentions Drop Drastically; Bitcoin SV Tweets Down 87%

    Research by cryptocurrency researchers has shown that Bitcoin SV has suffered one of its biggest plunges in October. Twitter shows that the “altcoin mention season” has drastically dropped this month, TIE reported.

    The plunge even worsened after Bitcoin went below the $8,000 mark at the beginning of October. It is, however, reported that some altcoins have remained stable. Altcoins were even able to rally on some days though it did not bring too much hope.

    Investors have been reminded that even though altcoins have been very promising, they need to keep in mind that the KIN token was also encouraging at some point, but currently, it is sinking to rock bottom. They should also not place too much hope on altcoins as they are still highly risky.

    The big question right now on every investor's mind is whether the asset will stage a rally as it did back in 2017. Tweet volumes on this project have reduced, marking an all-time low since the highs in May. The 87 percent downhill plunge shows that social media users are not interested anymore in the assets.

    This is also seen in the price performance of the asset, which is going down. The BSV is the ninth-largest cryptocurrency, and it is saddening that it has dropped by more than 75 percent against the benchmark asset (US Dollar). The performance against the dominant cryptocurrency Bitcoin has also gone down by 76 percent, meaning that traders reserved their BSV capital and are interested in other cryptos and fiat currencies.

    What Made Bitcoin SV Traders Abandon It?

    The main problem that led to the massive loss is the founder of the Bitcoin SV, Wright. He lost credibility in front of his staunch followers at a Florida court. The judge mutilated the self-proclaimed Satoshi Nakamoto for lying under oath.

    Judge Bruce Reinhart said that he had forged documents to launder millions worth of bitcoins, and he ordered him to return the bitcoin, which is said to have been mined during the initial stages of cryptocurrency.

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    Daniel W
    Daniel W
    Daniel Wambugu writes daily cryptocurrency and blockchain related articles BitcoinExchangeGuide. His articles have appeared in numerous blogs, media publications, and community forums. He prides himself on once being a beginner and uses his experience to deliver high-quality insightful content for our dear readers. With a knack for reviewing ICOs or researching news, Daniel plans to continue being a top contributor for many years to come.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    3,279FansLike
    2,755FollowersFollow
    4,126FollowersFollow

    Live Bitcoin Price & Latest BTC Charts

    Today's Latest Crypto News

    Dash Price Analysis (February 16)

    • The overall outlook of the coin market is bullish in trend. • The bears may have a temporal control. DASH/USD Medium-term Trend: Bullish • Resistance levels...

    Over $350,000 USD in Ethereum Lost from bZx DeFi Platform in a ‘Complex Transaction’

    bZx Exchange, a DeFi based product states it lost over $350,000 USD in ETH following a “malicious attack” or “successful arbitraging” as queries are...

    Stellar (XLM) Price Analysis (February 16)

    • The price of Stellar is likely to encounter a price breakout soon. • Buyers are in the dominance of the market. XLM/USD Medium-term Trend: Bullish •...

    Bitcoin Cash (BCH) Price Analysis (February 16)

    Key Highlights Lately, there was a slow-increasing mote in the BCH/USD trade worth. As at the time of writing, the crypto’s value looks being...

    MONERO (XMR) Price Analysis (February 15)

    Key Highlights There have been long series of relative up rises in the XMR/USD market activities.  The XRM/USD market has maintained a range interval...

    Bitcoin is Gold on Steroids that would Make an All-time High by Halving: Galaxy Digital CEO

    Earlier this week, Bitcoin breached $10,000 and since then we have been keeping above this level. The digital asset is up 40% in 2020 so...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.