The BSV Pump

[from coinmarketcap.com]

Since two days SV is suddenly pumping while ABC is dropping heavily. This sudden rise among general crypto bear trends seems extremely suspicious. SV is lagging heavily behind ABC in PoW. They are dominated by few ideological miners that are mining at a loss since the fork. The only thing they offer are huge empty blocks.

The main BSV actors are not following a typical crypto spirit but believe that miners have certain ethical roles to fulfil. They are also known to make unrealistic claims that are then backed up by nothing. And they think that Satoshi was a god and needs to be worshiped. Satoshis words are the ultimate truth and cannot be improved on.

The only news regarding BSV is that they are filing a lawsuite against ABC for market manipulation. Not a very stong move, more like what a sore looser would do.

In summary BSV does not looks very promising. Why this pump and why now? It does not make much sense. Given the shady nature of the BSV actors I think this has to be a pump by them trying to convince us that they are the real BCH after their attempt in mining failed.

If they just manipulate the price, they will loose money, unless we are stupid enough to buy and support this fake pump. But in the long run I have serious doubts that there is a real niche for BSV. If you are still holding BSV, now seems to be a great opportunity to get rid of them.

The Crypto Winter

Again we are seeing heavy losses. And I also notice a strong change in attitude. Early in the year when BTC first hit 6000$ people were still very optimistic and expected quick gains and a return to bull conditions. Now this is different. People are giving up and trying to save what is left in fiat value.

Have we reached capitulation and despair? I honestly think not yet. But what is important to realise is that it is easy to buy when there is hype close to the top and hard to hold when everyone is pessimistic close to the bottom. But the big profits are made buy people that buy when everyone is pessimistic and sell when everyone is optimistic.

SBD is not a stable coin. Prices around 0.5$

Exactly as I predicted the price of SBD is following the price of steem linearly since the last weeks when the peg was first broken.

Price of SBD vs price of Steem in $. The blue line is the peg if instant conversions were possible, the orange line takes into account the risk from the 3.5 day conversion period. The thin black lines are current steem and SBD price.

As can be seen the current price of SBD at 0.55$ is a rational market price and just a little too low. At these prices small gains can be made from conversions so the SBD price should go up a little.