Bitcoin Forks Falter Following Craig Wright Ruling, Bitcoin Satoshi's Vision Stumbles by 17%

By: Eva Baxter

Following the recent landmark ruling against Craig Wright, Bitcoin and its forks have undergone a significant market shift. Bitcoin has witnessed a pullback from a newly established all-time high of $73,750, trading down by approximately 8% as of March 14. However, Bitcoin's forks have been hit harder; notably, Bitcoin Satoshi's Vision has seen a 17% downfall against Bitcoin.

Other Bitcoin forks, such as Bitcoin Cash have also experienced a slump against Bitcoin, albeit at a lesser extent of 3% and 7%. Interestingly, the downturn comes in the backdrop of Craig Wright's Bitcoin fork, Bitcoin SV, which is down by around 80% from its all-time high against Bitcoin. Despite Bitcoin SV having soared roughly 360% from its lowest point in July 2023 in dollar terms, it's near its all-time low when denominated in BTC.

BTC's downturn post the ruling has led BSV to endure a severe blow, with a sharp 22% drop since UK courts dismissed Wright's claim to be Satoshi Nakamoto. Despite the setbacks, Bitcoin SV proponents remain steadfast.