1308573213#rif#stpt If you can keep up, give it a thumbs up!

Bitcoin Price Plunges by $30,000, Could Clear the Way for SOL, LINK, AAVE, and STX

Bitcoin’s strong rally to $30,000 may have kicked off a sharp recovery for SOL, LINK, AAVE, and STX.

One positive development this week was that Bitcoin’s strength was tempered by several altcoins that surged past their respective indirect resistance levels. This suggests that sentiment is gradually turning positive and it may be time to consider selective buying.

BSV rides the BCH wave despite poor fundamentals

The correlation between BCH and BSV is 0.78, which seems to be the reason why BSV gained 31.4% in June.

BSV has been in an ongoing downward trend since 2022, as interest in the blockchain wanes after the crypto bull run and its trading volume dried up.

On June 10, the coin hit an all-time low of $21.43 before riding the BCH bullish tide and staged an upward move.

Its poor performance drives miners out of its ecosystem, making a 51% attack on Bitcoin SV relatively cheap—a one-hour attack would cost less than $2,000, compared to $1.4 million on Bitcoin, making Bitcoin SV Fragile.

eCash (XEC) joins BSV and BCH in Bitcoin fork rally

Crypto eCash (XEC) is a renamed version of the third-level Bitcoin fork, and Bitcoin Cash ABC is another fork of Bitcoin Cash like Bitcoin SV.

Similar to BCH and BSV, XEC is also riding the wave that lifts all boats in the BTC fork category.

Similar to Bitcoin SV, eCash lacks fundamental value and exhibits volatility due to illiquid market conditions. The coin is listed on top exchanges such as Binance and Bithumb. However, it is not yet supported on any US-based exchange, which raises a red flag.

The rise of tokens with low liquidity and loose narratives suggests that these tokens may be subject to some price manipulation, affecting their short-term prices. The long-term value proposition of Bitcoin forks remains questionable, with low utility and low security.

(Follow the private chat and get free recommendations and full version information)