Crypto Bigwigs Call to Boycott Bitcoin SV amid Lawsuit Controversy

Leading figures in the cryptocurrency industry have called to boycott Bitcoin SV, a blockchain project created by Dr. Craig S Wright.

Crypto celebrities, including Morgan Creek’s co-founder Anthony Pompliano and celebrated bitcoin activist Charlie Shrem, requested exchanges to delist Bitcoin SV’s native token BSV. In his tweet published April 13, Shrem called Bitcoin SV a “scam,” and Dr. Wright “scammer,” hinting that the project deserved to die.

In another tweet published the same day, Mr. Pompliano shared a similar anti-BSV sentiment. The crypto commentator asked exchanges to show solidarity with the Bitcoin community and delist BSV on May 1.

The demand followed Dr. Wright’s threat to sue an independent cryptocurrency developer for writing against his claims about being Satoshi Nakamoto, the Bitcoin’s anonymous creator.

Things turned serious for Bitcoin SV when CoinGeek, the crypto blog supervised by Mr. Ayre, announced a BSV-enabled reward worth $5,000 for anyone who discloses HODLONAUT’s true identity. In a tweet made yesterday, Binance CEO Changpeng Zhao threatened to delist BSV pairs from its global cryptocurrency exchange. The clear message sparked a community movement to abandon BSV as a whole.

BSV Price Falling

The anti-Bitcoin SV sentiment could soon start reflecting on its market. While the BSV/USD instrument is merely tailing the overall crypto market trend – a bearish correction – its likelihood of extending its medium-term bullish momentum can be less.

Bitcoin SV (BSV/USD) in Bearish Correction

Since the lawsuit fiasco began, the BSV/USD instrument dropped by as much as 18.25 percent. The pair is now testing support at its 50-DAY moving average curve. A breakout towards the downside would make it rather difficult for it to make a healthy return. And if all the exchanges ended up delisting BSV, there is a high probability that the token will breakdown.