Bitcoin SV Price Prediction: Is BSV Ready To Surge To The Moon … – The Coin Republic

Bitcoin SV Price Prediction: Is BSV Ready To Surge To The Moon … – The Coin Republic

Spread the love

Share

Bitcoin SV Price Prediction

  • Bitcoin SV has been looking for a new high and has seen a drop of 91% from its all time high.
  • Technical indicators of BSV are favoring consolidation. BSV/BTC pair is down by 2.26%

Bitcoin SV (Bitcoin Satoshi’s Vision) is a cryptocurrency that was created as a result of a hard fork of the Bitcoin Cash (BCH) network in November 2018. The fork was the result of a long-standing dispute within the BCH community over the future direction of the cryptocurrency. The main point of contention was over the block size limit, with one group advocating for a larger block size to allow for faster transaction processing, and the other group advocating for keeping the block size smaller to maintain decentralization.The group that favored a larger block size eventually split off from the main BCH network and created Bitcoin SV, which has a block size limit of 128 megabytes. They claim that this larger block size will allow for more transactions to be processed per second, making it more suitable for use as a global currency.

Bitcoin SV is currently ranked 44th in the cryptoverse and has a market cap of $827 Million. Volume of the BSV has seen a dip of 34% in the intraday session. Volume to market cap ratio of BSV suggests a consolidated trend in price.

BSV Bulls Are Still Not Up

Source: TradingView

Bitcoin SV has been in a consolidated trend for the past few weeks. The weekly technical chart of the BSV suggests a weak upside trend in price. On coming to the daily chart the asset price is trading near $43 with a drop of 2% in the intraday session. Resistance of the BSV can be seen near $60.Meanwhile the support of the asset price can be observed near $35. It is currently trading below the 100 and 50 Daily Moving Average. There can be a negative crossover which can push the price below. Various analysts are expecting a a strong growth in the future.

Conclusion

Bitcoin SV has been affected by the downside of crypto market. BSV is currently seeing a consolidated trend and can see a new high in the future.

Technical Levels

Major Support:$35

Major Resistance:$60

Nancy J. Allen

Latest posts by Nancy J. Allen (see all)

Download our App for getting faster updates at your fingertips.

We Recommend

Top Rated Cryptocurrency Exchange

Tags
,

Related News

bitcoin-set-to-end-week-1%-higher-after-fed-meet,-but-strong-jobs-report-caps-gains-–-seeking-alpha
self-proclaimed-bitcoin-inventor’s-$2.5-bln-lawsuit-can-go-to-trial-–-london-court-–-reuters
tesla,-just-like-you,-lost-a-ton-of-money-on-bitcoin-in-2022-–-jalopnik