Bitcoin Cash and Bitcoin SV prices rising fast alongside BTC

The price of Bitcoin Cash (BCH) and Bitcoin SV (BSV) are pumping above their Sunday levels at the time of writing and have incurred gains of roughly six and seven percent, respectively. BCH is now priced at $221, while BSV has jumped to $164.

Much like their older sibling, BCH and BSV are recovering from significant drops that occurred over the weekend. BCH was initially trading for roughly $228 on March 27 but fell as much as $14 by Sunday evening. BSV was trading for $173, only to drop to $157 two days later.

Bitcoin itself suffered heavily over the last three days. After hitting $6,700 on Friday it sunk as low as $6,250 within the next 48 hours. By early Monday morning, the digital asset had dived further, to $5,800. BTC has since recovered somewhat and is trading for $6,357.

Bitcoin SV’s initial drop occurred just days after an unknown mining pool was discovered to have potentially captured most of the asset’s hash rate in a bid to increase the amount of mining occurring on the BSV blockchain. This raised concerns about the safety of BSV and led some to question whether a 51 percent attack was imminent. 

Just as fear surrounding the coronavirus drove stocks into the ground, it’s possible that fear surrounding BSV’s network status inspired its weekend sink. That's unlikely, however, given that Bitcoin Cash and other currencies also fell over the weekend. Regardless, BSV and BCH are now recovering.

For the most part, today has yielded greener pastures for most of the industry’s top 20 coins, with the prices of assets such as Litecoin, Ripple, and Ether up by anywhere between two and four percent over the past 24 hours.