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As Bitcoin crosses $55k, BCH and BSV are delisted from exchanges

In the past 24 hours, the price of Bitcoin has increased more than what it was at its lowest last year. This bullish run has investors even more positive towards the long-term goals of the cryptocurrency. Another milestone that Bitcoin has reached in the past 24 hours is the $1 trillion market cap making its value 10% of the entire gold market. And as these things happened, OkCoin has delisted BCH and BSV yesterday. This was because the exchanges found it to be confusing for new users because of the same naming scheme.

Bitcoin’s milestones

To understand the sheer size of milestones achieved by the company, just think of the fact that Bitcoin is now worth more than Facebook. And it is only a little behind Alphabet and Amazon. If the price continues to rise at such a pace, we will soon see it cross even Apple within a year at most. Bitcoin has risen more this month than its last bull run in 2017. And all thanks to the growing adoption of cryptocurrency. Its decentralized nature makes it attractive to investors and companies, as it’s much is less prone to manipulation.

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If you invested just $2 in Bitcoin when it came out, you would now have millions of dollars. It has gone from being nothing to one of the most valuable currencies globally. And as the mainstream acceptance is taking off, the value of the currency is only increasing. Visa, Mastercard, Apple Pay, and Paypal are some major payment platforms that have already accepted cryptocurrency as a payment method. At the same time, companies and banks like Tesla, Square, Microstrategy, BNY Mellon, and Blue Ridge Bank are transacting in the same.

Just yesterday, we found out that Switzerland’s crypto valley will also accept Bitcoins as a tax payment method. And on the other hand, Bill Gates said that now he has taken a neutral view on cryptocurrency. Very soon, Bitcoin will also be worth more than the entire silver of the planet.

Why are BCH and BSV delisted?

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Bitcoin’s growing popularity has made many new investors start buying the crypto too. And this means the users of the crypto platform are more than ever. But still, many are confused about between them. And the similar naming scheme also adds to that confusion. It’s also being speculated that these two currencies are not as secure as Bitcoin and might be easily frauded. As OKCoin delisted the currencies from their exchanges, the CEO of the company said, this decision wasn’t easy but was taken as a means to help the users. And make sure they aren’t confused. But still, no major exchanges have yet taken up on this move.

What are your thoughts on exchanges delisting Bitcoin clones with minor tweaks? And does it actually make sense? Let us know in the comments below. Also, if you found our content informative, do like it and share it with your friends.

Also Read: Elon Musk strongly criticizes the Texas power supply company



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