Bitcoin SV (BSV) Price Flash Crashes to $44 on BitFinex, Triggers Price Manipulation Fears

Yashu Gola
Bitcoin SV price is making headlines again, hours after scammers pumped its price upon publishing a fake news alert purporting Craig Wright to be Satoshi. | Source: Shutterstock

 
By CCN: Bitcoin SV price witnessed a sharp fall on BitFinex on Thursday — a flash crash that dragged the cryptocurrency from $254 to $44 in a matter of minutes.

BitFinex has no issued any clarification about the sudden dump of 25,000 BSV. It is likely that somebody mistakingly sold Bitcoin SV at the rate of $44 per unit, or that price manipulation was effective. What’s evident, however, is somebody matched the Ask Price and assisted Bitcoin SV to climb back to the old levels within minutes.

bitcoin sv

BITCOIN SV PRICE DROPPED UP TO 13-PERCENT WITHIN A FEW MINUTES | SOURCE: TRADINGVIEW.COM, BITFINEX

Price Manipulation

The flash crash closely followed media reports highlighting how scammers are artificially pumping the Bitcoin SV rate by publishing fake news. Impersonating a Chinese news website Coinbull, the shady market makers on Wednesday spread a piece of false information stating that Dr. Craig Wright transferred bitcoins from a wallet that belonged to Satoshi Nakamoto, the pseudonymous creator of the Bitcoin protocol.


Dr. Wright, who launched the Bitcoin SV as the “real bitcoin” in November 2018, has claimed for years that he is Nakamoto. However, the Australian scientist so far has failed to show concrete proofs — the ownership of the first-even mined bitcoins, that could prove he is the creator behind the world’s most valued decentralized cryptocurrency. Hence, the fake news read (translated from Chinese):

Read the full story on CCN.com.