Arcane Research analysts published a report, in which they shared their thoughts on the reasons for the recent Bitcoin SV rally, which grew by almost 200% in 7 days.
The Weekly Update: 2017 sentiments are back in the crypto market, as altcoins register wild gains. Read more about this and other highlights in our weekly market update. https://t.co/V8kLoenvMj pic.twitter.com/tmiDlx68Iw— Arcane Research (@ArcaneResearch) January 17, 2020
One of the reasons experts call FUD, caused by claims by "self-proclaimed Satoshi" Craig Wright about gaining access to 1.1 million bitcoins.
The experts think that rumor raised the prices of all forks of Bitcoin, especially BSV, where Wright is the central figure.
The company emphasized that Bitcoin SV is illiquid due to its absence on most popular exchanges. Consequently, the asset is easy to manipulate.
In addition to Huobi and OKEx, Bitfinex remains the only major exchange supporting pairs with Bitcoin SV.
Another, according to analysts, a significant factor is fake trading volumes on most trading floors presented on the popular analytical service CoinMarketCap (CMC).
The report says, that on most exchanges, from the top of the CMC rating, it would seem, large volumes, but completely insignificant liquidity. This may indicate that most of the volumes are fake, and low liquidity simplifies price manipulations.
Earlier, Arcane Research analysts expressed the view that the real dominance index of BTC may exceed 90%.