• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Bet & win BTC
Breaking News: Ecommerce Giant Amazon To Launch NFT Initiative
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Bet & win BTC
Bitcoinist.com
No Result
View All Result
Breaking News: Ecommerce Giant Amazon To Launch NFT Initiative
fake news bitcoin sv
Advertisement

Chinese and Koreans Go Crackers For Bitcoin SV (BSV) On Fake News FOMO

Martin Young by Martin Young
4 years ago
in News, Altcoin Price, News teaser
0
Advertisement

Looking at the crypto charts today reveals one altcoin surging into the top ten as it doubles in price over a few hours. This is a highly unnatural movement for a high cap crypto asset, but then again most things associated with Bitcoin SV are pretty unnatural.


Bitcoin SV [coin_price coin=bitcoin-sv] has powered into the top ten flipping Tether, Stellar, Cardano, Tron and Monero in one big movement. With a new market capitalization of $4 billion the Bitcoin Cash offshoot is now at eighth position just behind Binance Coin.

Get 30 FREE SPINS at Punt Casino - NO DEPOSIT REQUIRED! Start Playing Now.

BSV hit a new all-time high just below $240 a few hours ago during early Asian trading. This time yesterday it was priced at around $116 so the epic move has seen the coin double in price. At the time of writing Bitcoin SV was trading at $223, according to Tradingview.com.

Bitcoin SV prices 1hr – Tradingview.com

Daily volume has surged from $300 million to almost $2 billion as a wave of fomo propels it higher. Asian traders, particularly South Koreans, are jumping on the crypto train today as the majority of that volume is going through Upbit, OKEx and Huobi. Almost 20 percent of the total volume is being traded in KRW at the moment.

Bitcoin SV Fake News FOMO

Reports have emerged that scammers posing as a Chinese crypto news outlet called Coinbull posted a fake alert claiming that BSV founder Craig Wright had transferred Bitcoin from the Satoshi wallets to prove his identity as the father of BTC. The spurious message read,

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

CSW transferred 50k BTC from the biggest BTC wallet to Binance, which confirmed he is the real Satoshi. As such CZ will re-list BSV and make an official apology on Twitter.

These pump and dump schemes are still quite common on Chinese social media which remains heavily censored. Primitive Ventures founding partner, Dovey Wan, told Coindesk;

The trick is easy and constantly used by many scams – all Chinese crypto media circulate the breaking news via picture as above in WeChat instead of a news link. So anybody can just use the same theme template and photoshop one.

Coinbull made a real announcement on WeChat stating;

Recently, we have received feedback from users that certain people had maliciously sent out photoshopped Coinbull news alert to spread rumors about Binance and CSW which had bad consequences. We remind our users again not to trust any rumors and not to spread any rumors.

There has been no response from Binance boss Changpeng Zhao on his usually very busy twitter feed.

This latest scam highlights that China’s despotic attitude towards crypto is more damaging to its citizens than allowing them to make better informed trading decisions with a free and fair access to industry related media.

Will Bitcoin SV dump as quickly as it pumped? Add your thoughts below.


Images via Shutterstock

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Martin Young

Martin Young

Martin has been writing on technology for 15 years, he has a keen eye for emerging cryptocurrency news, blockchain developments, and market sentiment.

Related Posts

Korean Financial Services Commission Chair Announces Security Tokens

Korean Financial Services Commission Chair Announces Security Tokens

2 weeks ago
DCG

Tron Founder Justin Sun Ready To Invest $1 Billion On DCG Assets

2 weeks ago
ETF

Samsung Unveils Bitcoin Futures ETF Amid Escalating Crypto Interest

3 weeks ago
Hong Kong Flag

Hong Kong to Limit Retail Investors’ Crypto Trading to Only ‘Highly Liquid’ Assets

3 weeks ago
Mango

CFTC Sues Trader Over Alleged Mango Markets Scam

3 weeks ago
FTX Exchange

Former FTX US President Harrison To Share Information About The Exchange

3 weeks ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Top Casinos

BitStarz
BitStarz
Punt Casino
Punt Casino
mBit
mBit
Metaspins
Metaspins
1xBit
1xBit
Coinplay
Coinplay
K8
K8
Vegas Casino
Vegas Casino

Sportbooks

Coinplay
Coinplay

Press Releases

  • Binance Coin (BNB) Trading Volume Pumps By $7 Million While...

    2 hours ago
  • Polkadot (DOT) sees 5% Growth, why Cardano (ADA) and...

    4 hours ago
  • More than a trillion dollars moved in Litecoin (LTC)...

    4 hours ago
  • Moralis has revealed the integration of Web3 API with Aptos...

    5 hours ago
  • Is Aptos (APT), Solana (SOL), or Snowfall Protocol (SNW)...

    1 day ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Bet & win BTC

© 2022 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.