At press time, Bitcoin has been up after the recent 30-percent correction already and is trading slightly under $11,000.
Overall, the major crypto asset has gained around 250 percent since the start of 2019. Still, there are two other crypto assets that have been top gainers since the beginning of the year – BSV and Chainlink. In a recent article, Forbes tries to analyze the reasons behind these coins’ rise.
Claiming to be Satoshi Nakamoto helps promote your own coin
Longlash reports that in April, Bitcoin SV was 17 percent up against Bitcoin, and Chainlink (LINK) has acquired a stunning 168 percent against BTC.
Notably, LINK surged while Bitcoin’s price was dropping in a retracement.
BSV has gotten this high up thanks to the ‘charisma’ of its founder, Craig Wright, who has been drawing attention by claiming to be the Bitcoin founder and suing those who publicly disagree and call the man a fake Satoshi. Among those are Vitalik Buterin, a Twitter user by the name of Hodlonaut, and the famous podcaster Peter McCormack.
Craig Wright so far has been unable to convince the community that he is indeed Satoshi Nakamoto, however, he has recently copyrighted Bitcoin’s white paper and Bitcoin’s code.
Chainlink price surges high but may drop as hard
Citing OpenMarketCap, Forbes writes that LINK has been over 800 percent high this year versus the USD.
Chainlink tries to solve the so-called oracle problem that Ethereum users face. This problem arises when two users want to make a bet on, say, an outcome of a sport game, they need a thirds party to judge which of them has won.
A third party presence in this case are equal to security wholes and must be avoided.
However, Forbes warns that coins like LINK can collapse in price as easily as they surge, so investing in this asset could be as intriguing as gambling, basically.