Why Bitcoin SV Is Getting Hammered
Portfolio Pulse from Henry Khederian
Bitcoin SV (BSV) experienced a significant drop of 15% to $97.12, influenced by a broader cryptocurrency market pullback led by Bitcoin's decline after reaching a new all-time high. The sell-off in crypto-related stocks and altcoins, including BSV, was triggered by Bitcoin's sharp drop from above $69,000, marking its largest daily decline since November 2022. The speculative nature of the cryptocurrency market and the tendency of altcoins to follow Bitcoin's price movements closely contributed to the increased selling pressure on BSV.
March 05, 2024 | 11:06 pm
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Bitcoin SV (BSV) saw a 15% drop to $97.12, following a broader market sell-off triggered by Bitcoin's decline after a new all-time high.
BSV's price drop is directly linked to the broader cryptocurrency market's reaction to Bitcoin's significant pullback. Given BSV's tendency to follow Bitcoin's price movements, the sharp decline in Bitcoin led to increased selling pressure on BSV, resulting in a 15% drop in its price.
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