The price of Bitcoin SV (BSV) has dropped by 1% in the past 24 hours, falling to $39.29 as the cryptocurrency market as a whole enjoys a 5.5% gain today. This seems to be in relation to Ripple’s positive ruling in its case with the SEC, which has sent most altcoins much higher, yet has dampened the market’s appetite for Bitcoin forks such as BSV. This has caused the coin to drop 7% in a week and 22% in the last 12 months, making it at risk of falling out of favor.
Not only major altcoins could be a cause of concern for BSV, as a number of new presale tokens have emerged in recent weeks, such as Thug Life Token (THUG), which offer higher gains. The coin’s chart indicates that it may have further losses in store, with its relative strength index (purple) dipping from 50 to 40 in the past couple of days, 30-day moving average (yellow) sliding down, and its 200-day average (blue) at risk of being dropped below.
BSV had been performing positively in the wake of the SEC’s legal actions against Binance and Coinbase, in which the regulator labeled a number of tokens – but not BSV (and other Bitcoin forks) – as securities. However, with Ripple’s case against the SEC concluding with the judge ruling that XRP is not in itself a security, other altcoins have rallied.
Fortunately, there are other smaller-cap altcoins right now that show real potential for big rallies in the near future, with the best presale tokens being particularly promising. One of these is Thug Life Token (THUG), which has impressively raised $1.5 million in its presale. Running on the Ethereum blockchain, THUG has been building an online community for itself after aligning itself with the gangsta rap and hip-hop communities, from which it draws its memes and stylings. This presale has been allocated 70% of the coin’s overall supply (4.20 billion), which will help make it appreciably decentralized and its community feel more invested in the token.
1 THUG costs $0.0007, although this price is likely to be surpassed when THUG lists on exchanges in the next week or so. Investors can join THUG’s presale and its community by visiting the official Thug Life Token website and connecting their crypto wallets.
It is important to remember that crypto is a high-risk asset class, and this article should only be used for informational purposes and not as investment advice. You could lose all of your capital. Visit Thug Life Token Now.