This week has dropped some bombshells that crypto investors have been preparing to hear for a long time. That is, the identity of Satoshi Nakamoto — the pseudonymous inventor of Bitcoin (CCC:BTC-USD) — has been revealed through a contentious lawsuit levied against Craig Wright. With the verdict of the suit being cast and Wright being pointed to as the progenitor of the world-famous crypto, there are a now lot of questions being answered. Further, Bitcoin SV (CCC:BSV-USD) is rallying on the news thanks to its Wright connection. Now, investors are seeking out Bitcoin SV price predictions.
Craig Wright is a computer scientist and only just overcoming the lawsuit by Ira Kleiman. The brother of the late Dave Kleiman, Ira Kleiman alleges that Wright and his brother worked together to create and mine early Bitcoin. The suit is especially interesting to investors because it is clearing up the long-unknown identity of Satoshi Nakamoto; Kleiman alleges that Satoshi is a team pseudonym, while Wright claims he worked alone.
The verdict from earlier this week is clearing the air over the longstanding question; the jury has decided that Wright is the lone inventor of Bitcoin. There was no breach of a partnership with Kleiman, as ruled by the jury, but Wright does still have to pay $100 million to the plaintiffs for intellectual property rights relating to Kleiman’s business.
With all of this out of the way, there’s now a vastly increasing interest into Bitcoin SV, a fork of Bitcoin. That’s because if Craig Wright is the real Satoshi Nakamoto, Bitcoin SV is far more legitimate than investors previously considered.
Bitcoin SV Price Predictions Heat Up as BSV Turns Out to Be the ‘Real Bitcoin’
Investors typically consider Bitcoin SV to be an imitation of Bitcoin. BSV spawned as a hard fork of another hard fork, a sort of distant offspring to the $50,000 entity which is today the most well-known cryptocurrency of all time. But now, investors are realizing that it really is the next step for BTC.
That’s because Bitcoin SV is the product of Craig Wright, the man now evidenced to be the real Satoshi Nakamoto. It forked from Bitcoin Cash (CCC:BCH-USD), which forked from the original Bitcoin protocol. Bitcoin SV stand for “Satoshi’s Vision.” At the time of its creation, Wright said the fork would be an evolution of Bitcoin as Satoshi originally intended. In this sense, it would be the “real Bitcoin” — and with Wright now identified as the creator, it seems to be confirmed as such.
As a result of the lawsuit, BSV prices are absolutely booming. The coin is up 40% this morning. Currently, it’s trading at a value of about $165. Transaction volume is up nearly 160% on yesterday’s volume, with over $1 billion in BSV swapping hands.
Can BSV continue this into the future now that investors are seeing it as the real deal? Let’s take a look at some Bitcoin SV price predictions and consider what analysts are thinking:
- Coin Price Forecast thinks there’s plenty of growth potential left in the tank for 2021. The site expects BSV to close out the year at $184. In December 2022, the site expects that value to grow to $207.
- WalletInvestor is expecting BSV to lose over the next 12 months. The outlet forecasts a December 2022 price of around $122.
- Gov Capital is quite the opposite, expecting the next year to be chock full of gains. The site expects BSV to be worth over $340 at this time next year.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
