Bitcoin SV (BSV) Skyrockets 20% While The Green’s Back Into The Market: Crypto Monday’s Watch

The cryptocurrency market was particularly volatile in the last few weeks. Bitcoin SV stands tall today with a serious increase of over 20% in the past 24 hours alone. At the time of this writing, BSV trades at around $307.

BSV has been on a rollercoaster throughout the past seven days. On January 15th, it reached a new all-time high of $413. At that time, news broke that Wright doesn’t have access to the private keys needed to access 1.1 million bitcoins, part of the popular Tulip Trusts. Almost immediately after that, BSV lost about 15% of its value, dropping down to as low as $256.

Despite that, it appears that Bitcoin SV’s positive trend continues. It has been one of the most impressive performers since the start of the year. BSV entered 2020 at $97 and, in less than three weeks, has skyrocketed with 216%.

BSVUSD 1h. Source: TradingView

The entire market has been on the move in the past couple of days. Bitcoin lost $700 yesterday, but since then, it has stabilized at around $8,650-$8,700, which serves as a significant support level. Bitcoin’s dominance also took a hit and was reduced to 66.1%. This suggests that altcoins managed to break new grounds. In general, almost all of the top 20 cryptocurrencies are marking slight increases, as the entire market sees green as the predominant color.

Ethereum is at $166, with almost no movements in the last 24 hours. The same could be said about XRP, currently trading at $0.231.

Bitcoin Cash ($340) and Litecoin ($58) show around 2% gains. Stellar (XLM) and Cardano (ADA) note 3% increases, which positions them at 10th and 11th place by means of total market capitalization.

Total Market Cap: $238 B | Bitcoin Market Cap: $157 B | Bitcoin Dominance: 66.1%

Major Crypto Headlines

Telegram’s Clash With SEC Continues: Internal Correspondance Suggests TON Is Security. New information shared by the U.S. market regulator suggested that Telegram officials considered the GRAM token to be a security. As such, it needs to be regulated under the existing legislation.

Binance Adds Fiat-to-Cryptocurrency P2P trading For The Vietnamese Dong (VND). The largest crypto exchange by trading volume, Binance, now allows fiat-to-crypto trading for the Vietnamese Dong. This came just days after the addition of FTX tokens that can be used for 3x Short and Long positions for Bitcoin and Ethereum.

South Korea To Impose 20% Tax On Cryptocurrency Trading. The Asian country may change its mind again when it comes to taxing cryptocurrency trading profits. The government is reviewing a way to address crypto gains as “other income” and thus impose a 20% tax.

Significant Daily Gainers and Losers

DigixDAO (16.34%)

DGD is the second-largest gainer today, only after BSV. It jumps with 16.34% to the current price of $31, and the total market cap is north of $62 M. The rise against Bitcoin is similar, and DGD/BTC is trading at 0.0036 SAT.
The company recently posted a full review of 2019 and the upcoming 2020 developments that are scheduled to take place.

Dash (11.24%)

DASH has also performed impressively throughout the past 24 hours. The privacy coin increased by 11.3% against the USD and almost as much against BTC. At the time of this writing, it trades at around $107 and 0.0124 SAT, respectively. The total market cap is shy of $1B, and DASH is currently at 16th place among the top 100.

Cryptopotato recently had the chance to speak with Dash Core’s Business Development Manager for LatAm, Ernesto Escalona. In his words, the recent positive price movements are a result of the hard work the team has put behind the project and that they will continue doing so in the future.

Maker (-5.50%)

MKR stands on the negative side of the charts, with a 5.50% decline against USD and BTC. Its price compared to the dollar is $471 as the market cap has dropped to $460 M. MKR/BTC trades at 0.0544 SAT.

Just five days ago, Maker was at $543, which means that the total drop since then is over 13%.