Bitcoin Cash and Bitcoin SV fall prey to massive shorts

Poloniex released a short report on traders’ trend on the exchange for three cryptos namely, Bitcoin Cash [BCH], Bitcoin SV [BSV], and Ethereum Classic [ETC].

The blog released by Poloniex stated,

“Now Poloniex customers can trade on margin (all with BTC as the base pair and at 2.5 times leverage) the following: EOS, ATOM, BCHABC, BCHSV, ETC, XRP, ETH, XMR, STR, FCT, LTC, BTS, DOGE, DASH, MAID, and CLAM.”

The blog further stated that the recent surge in trading was ignited by the feud between Craig Wright and the crypto community, prompting many exchanges to follow Binance’s lead in delisting BSV. Additionally, the blog stated that users took the opportunity to overwhelmingly short BSV.

Furthermore, the blog added,

“It’s unclear what’s driving people to short Bitcoin Cash. See the results below, all with BTC as a base pair, for the percentage of long vs. short positions as of April 24, 2019.”

Additionally, the blog posted a chart that showed the correlation between the short and long for Bitcoin Cash, Bitcoin SV, and Ethereum Classic.

Source: Twitter | Poloniex

The chart showed that ETC was largely longed, while the same didn’t apply to BCH and BSV. Bitcoin Cash was tremendously shorted in comparison to Bitcoin SV, the chart indicated.

A Twitter user, @daudi_mitchell, commented,

“Interesting that folks are shorting BCHABC, by all means short BCHSV to ground… Probably we can see some trading opportunities in BCHABC and BCHSV For some reason, I keep getting sign out everytime i log in to Poloniex, its annoying, probably you can look into it”

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