BSV, BCH or BTG: Bitcoins Hard Forks pump to the moon – does BTC follow?

The markets for crypto investments are currently on fire and are by far their biggest gains of the year. This is good news – except for one or the other Bitcoin maximalist, whom the extreme price pumps of the opposing hard forks leave at a loss.

Over 50% of all top 20 cryptocurrencies made double-digit gains yesterday. This has led to an epic $ 20 billion pump back into cryptocurrency markets in the past 24 hours.

Altcoin investors are overjoyed, but many “Bitcoin only” supporters are wondering what FOMO is really about.

Bitcoin hard forks ablaze

The two altcoins that are currently drawing everyone’s attention are Bitcoin Cash (BCH) and Bitcoin SV (BSV). Unfortunately for the BTC supporters.

At the time of writing, Roger Vers BCH had grown 30% – from $ 266 to $ 350. Bitcoin Cash has won 66% since the beginning of the year, significantly outperforming its big brother.

As if that weren’t bad enough for hardcore bitcoiners, Craig Wrights Bitcoin SV has grown a whopping 144% over a 24-hour period. This has enabled the much-maligned altcoin to overtake BCH and land in fourth place – with a market cap of over $ 7 billion now.

In a tweet that has since been deleted, “The Block” CEO Mike Dudas wrote:

“Good people in the normal world. I can understand that it is difficult for you to take cryptocurrencies seriously. That’s the performance of #Faketoshis Shitcoin last week. “

The reason for the epic pump is clear. There have recently been rumors of missing keys to a Wright-owned Tulip Trust, which is said to contain millions of BTC.

The FOMO is based on the idea that Wright will liquidate all of these BTC in favor of its own coin Bitcoin SV. In the ongoing lawsuit, Wright is accused of stealing more than half a million BTC that were mined in the early days of the digital asset’s existence.

Ran NeuNer, CEO of Onchain Capital, couldn’t help but comment:

So according to this , Craig’s courier arrived and he has the keys to the Bitcoin that are locked up! New target price for BSV $8700!🤣 pic.twitter.com/XOw1tQBhED

— Ran NeuNer (@cryptomanran) January 14, 2020

Altcoins beat their big brother

BCH and BSV are not the only high-flying altcoins – but they seem to be driving the dynamism of the market.

Ethereum has finally overcome its lethargy and has risen 15% to over $ 165 and Ripple’s XRP has risen 10%.

Litecoin, EOS, Monero, Tron, Cardano, Stellar, Ethereum Classic and NEO also all achieve double-digit growth, but Dash seems to be taking the lead at the moment and pushing the charts up with a 70% pump.