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Bitcoin SV (BSV) Price Dips Following Coinbase Delisting

Bitcoin SV (BSV),  a hardfork of the Bitcoin token, has drawn much attention in the last day after top American exchange Coinbase announced its termination of support for the asset. Following this news, BSV’s price has taken a hit, falling by over 5% in the last 24 hours.

Coinbase Ends Support For Bitcoin SV

In an X post on February 3, Coinbase shared that it had officially withdrawn support for BSV on its platform. This announcement follows a previous post in December when the exchange first communicated its intentions to delist BSV.

According to Coinbase, all BSV remaining in customers’ wallets have been liquidated and replaced with the equivalent market value of another asset. However, the exchange states that certain wallets may not receive any compensation assets due to the transaction costs associated with the liquidation and replacement process. 

As of now, Coinbase has provided no official reason behind its decision to remove BSV from its coin offerings. However, it is worth noting that Bitcoin SV has been a rather controversial asset since its creation in 2018. 

Notably, the BSV blockchain network has been subject to multiple 51% attacks in the past due to its rather “centralized” structure, which serves as a source of concern to many exchanges. Aside from Coinbase, other top exchanges that have delisted Bitcoin SV include Binance, Kraken, Bittrex, Robinhood, etc. 

Furthermore, the token’s founder Craig Wright has continuously drawn criticism to himself for claiming to be the anonymous inventor of Bitcoin – Satoshi Nakamoto. In 2022, Wright filed to obtain the Bitcoin copyright and block the operations of the Bitcoin network and Bitcoin Cash claiming a violation of intellectual property. However, the court rejected this petition in the face of surmountable evidence against the plaintiff.

Bitcoin SV Price Overview 

At the time of writing, BSV trades at $72.65 with a 5.61% price loss on the last day but a 0.10% gain on the weekly chart. Despite an impressive end to 2023 in which it gained by almost 110% in the last week of the year, the Bitcoin hardfork is now down by 15.20% in the last 30 days. 

Meanwhile, the token’s daily trading volume is barely positive, having gained by 7.54% to attain a value of $90.39 million. With a total market cap of $1.43 billion, Bitcoin SV ranks as the 52nd largest cryptocurrency in the world.

Bitcoin SV

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Bitcoin SV (BSV) Ushers In 2024 With A 110% Bang – Details

The hard fork token from Bitcoin, known as Bitcoin SV, continues to rise and has crossed $100 for the first time since February 2022.

The price spike, which is noteworthy for having increased by almost 110% in just one week, is mostly attributable to increased trading activity and interest in the South Korean market.

Upbit Spurs Bitcoin SV Surge: Insights

Upbit, the biggest cryptocurrency exchange in South Korea, has been the center of this increased interest in BSV. On New Year’s Day, Upbit registered a significant $275 million in BSV trading activity.

With a total trading volume of $753.5 million, this trading frenzy has driven Bitcoin SV’s market cap to $1.7 billion.

The trend is not exclusive to Upbit, as the trading volume of the token on OKX has also significantly increased, surpassing $47.5 million. In the past 24 hours, BSV’s trading activity has surged by more than 300%.

By trading volume, Bithumb, a significant regional exchange, ranks among the top three as well. Notably, throughout the past 24 hours, Upbit and Bithumb have accounted for around 70% of BSV’s total trading volume.

As of this writing, Coingecko statistics indicates that BSV was trading at $102.87, up 7.3% and 109.1% over the previous day and week, respectively.

Positive indicators including a bullish Relative Strength Index and a Moving Average Convergence Divergence, together with a trading volume rise of more than 40%, back the surge.

The RSI is moving north while in the overbought area, suggesting a bullish future trajectory for the price of BSV. While the price of Bitcoin SV appears to be accelerating, the MACD is likewise in the green zone, indicating purchasing pressure on the cryptocurrency.

The Bitcoin fork stands out as one of the top cryptocurrency gainers, and although encountering resistance around the $115 level, BSV’s performance follows a wider pattern of erratic moves in the crypto market.

Bitcoin SV’s Rise Amid Regulatory Moves

In an effort to transform Bitcoin SV into an enterprise-level blockchain and peer-to-peer payment system, proponents highlight the platform’s scalability, reliability, and security. The recent surge in Bitcoin and the likelihood of the SEC approving a spot ETF are driving interest in BSV.

Meanwhile, to counteract illicit behavior, South Korea recently established a regulatory framework for cryptocurrencies. In a significant move toward regulation, the nation mandated on December 28 that public servants register their cryptocurrency holdings. Controlled domains offer security, which may have drawn investors to these developments.

Although there remains resistance in the vicinity of $115, BSV has outperformed the overall market and is now a top gainer. Depending on how investors respond to its distinct value proposition and how the larger crypto scene develops, the market’s trend may continue or slow down. Watch BSV closely as it forges ahead in the dynamic digital asset market.

Featured image from Shutterstock

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Bitcoin SV (BSV) Erects A Solid 64% Growth In Just A Week – What’s The Story?

Following its inclusion in Binance’s futures trading options, one of the top global cryptocurrency exchanges, Bitcoin SV (BSV) saw a significant 64% gain in value this week. After splitting out from Bitcoin Cash (BCH) in late 2018, BSV is now trading at $54.02, a significant increase from $34.08 just a week earlier.

On Saturday, BSV reached a significant peak of over $58 on prominent spot markets. The last instance in which BSV was observed trading above $58 occurred in mid-September 2022. Since its notable surge on September 27th, the price of the crypto has experienced a substantial increase of more than 90%.

The price of Bitcoin SV reached an all-time high of $491.64 during the previous bull run. However, the market crashed, sending the coin tumbling more than 95%. Following rumors of the adoption of a Bitcoin ETF, the price of BSV has begun to move bullishly and is currently trading at an 89.19% discount to its previous ATH.

Bitrue, a widely used centralized exchange platform, has recently included BSV in its USDT pair and initiated a promotional campaign offering a $1,000 welcome bonus. This exchange is notably favored by the XRP and Ripple communities.

Bitcoin SV: Reclaiming Satoshi’s Vision With Larger Blocks

Bitcoin SV (BSV), designed as a peer-to-peer electronic cash system, asserts that it embodies the original vision of Bitcoin’s creator, Satoshi Nakamoto, despite the controversial claim made by its creator, Australian computer scientist Craig Wright, who many in the crypto community dispute.

BSV seeks to address the efficiency issues seen in Bitcoin (BTC) and Bitcoin Cash (BCH) by substantially increasing block size to minimize transaction fees.

In the beginning of the year, BSV coin was trading in the range of $39.50 to $44.75 until March, after which it saw a decline and traded between $34.90 and $39.40 until May. This was followed by relatively minor fluctuations before another drop, where the price ranged from $29 to $34.90.

In June, BSV reached an all-time low, but later gained momentum, surging and subsequently facing rejection around $56.47, resulting in a 50% drop. The coin then traded between $34.93 and $39.54 for a period, followed by another decline.

BSV Price Surge Tied To SEC ETF Speculation, Intra-Community Disputes

A sudden increase in the value of Bitcoin SV (BSV) has occurred recently, and some analysts have linked it to the possibility that the U.S. SEC may approve a spot Bitcoin ETF. Given the current disputes within the BSV community—Christen Ager-Hanssen, a well-known BSV supporter, resigned as CEO of nChain due to a disagreement with BSV leader Craig Wright—this demonstration is significant.

In summary, the future trajectory of the BSV price is contingent upon the successful breach of the significant resistance level at $56.48 by bullish market forces. This breakthrough has the potential to entice fresh investors and then challenge the higher barrier level at $61.99.

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

Featured image from The Cryptonomist

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Why Is Bitcoin SV (BSV) Up 63% Today? Find Out Here

Over the course of the past four days, Bitcoin SV (BSV) has witnessed a substantial surge in its price, marking an impressive milestone by reaching its highest point in the last 100 days. Remarkably, within this surge, BSV managed to breach the long-standing $40 horizontal resistance level, which had persisted since the month of July.

This recent surge in the price of BSV has sparked considerable interest among cryptocurrency enthusiasts and investors. It signifies a notable shift in the market dynamics, as BSV’s price trajectory has taken a positive turn after months of relative stagnation.

At the time of writing, BSV was trading at $53.84, up 27% in the last 24 hours, and erecting a solid 63% rally in the last seven days, data from crypto market tracker Coingecko shows.

Bitcoin SV 100-Day High Signals Renewed Market Interest

The fact that BSV has achieved a 100-day high is indicative of a more sustained and potentially significant upward trend. This suggests that the cryptocurrency has garnered renewed interest from traders and investors, possibly driven by fundamental developments or market sentiment.

Bitcoin SV (BSV), which originated in 2018 as a hard fork of Bitcoin Cash with the aim of increasing scalability through larger block sizes, has experienced a notable revival.

Following an extended duration of rather stagnant price fluctuations, BSV has had a substantial spike of 57% subsequent to reaching a nadir in August. This resurgence in price enabled BSV to overcome a crucial resistance level which had been a significant barrier since July.

The recent surge in cryptocurrency prices is mainly driven by the widespread excitement surrounding the potential approval of a Bitcoin Exchange-Traded Fund (ETF) by the US Securities and Exchange Commission. This sentiment was further bolstered when the SEC chose not to appeal the legal case involving Grayscale.

However, the spike in BSV’s price can be attributed to a misleading article, which falsely claimed that the SEC had anticipated the launch of the iShares Bitcoin Trust, briefly causing Bitcoin’s value to rise to around $30,000 before rapidly declining.

Binance Relaunches BSV, Leading To Price Surge

Meanwhile, Binance – one of the world’s largest cryptocurrency exchanges – relaunched BSV through a USD-M BSV Perpetual Contract with 50x leverage on Friday, resulting in a 30% surge in BSV’s price and over $500,000 in short position liquidations, as reported by Coinglass.

This move comes after a period of turmoil that began on April 15, 2019, when Binance delisted BSV because of a dispute between Binance CEO Changpeng Zhao and BSV creator Craig Wright, primarily over Wright’s claim to be Satoshi Nakamoto, the anonymous founder of Bitcoin, which resulted in alleged attacks on critics of his identity on Twitter.

Bitcoin SV’s recent price surge, pushing it to monthly highs, could propel it towards the yearly peak near $57, as it broke key moving averages in the $33-35 range and has been on an upward trend since August lows at $26. Notably, BSV has faced strong resistance from its 200-day moving average since early 2021.

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

Featured image from Coinpedia

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Bitcoin SV Climbs 22% – A Close Look At The Factors Behind The Surge

Despite seeing a notable increase of 15.2% in value yesterday, the current price of Bitcoin SV remains steady at a little over $39 compared to the previous day.

The current market situation involves a struggle with the immediate dynamic resistance level, leading to a state of uneasiness among traders.

Bitcoin SV, a Bitcoin fork, is now the most profitable cryptocurrency out of the top 100 by market capitalization.

The value of the world’s cryptocurrency market increased to $1.09 trillion at the time of writing, a 1.4% gain in a day. On Tuesday, ETH increased by about 0.1% to $1,585, while BTC was up 2.6% at $28,466.60.

SEC Influence On Crypto Rally And BSV Price Spike

The recent rally in cryptocurrency prices was primarily driven by optimism about the Securities and Exchange Commission (SEC) potentially approving a Bitcoin ETF. This sentiment was strengthened when the SEC chose not to appeal the Grayscale lawsuit.

However, there was a spike in BSV prices due to a false report from CoinTelegraph claiming that the SEC was anticipating the iShares Bitcoin Trust, pushing Bitcoin to nearly $30,000 before it quickly dropped.

At the time of writing, BSV occupies the No. 48 spot and was trading at $39.40, up 22% in the last seven days, data form crypto market tracker Coingecko shows.

The RSI for BSV is 67.58, the same as it was yesterday. This RSI level is slowly approaching overbought zone, which could indicate that a little correction or consolidation in the price of BSV is imminent.

Bitcoin SV is displaying positive indicators in terms of trading volume and market capitalization. Its market cap has risen by 1.22% to reach $757 million, and its 24-hour trading volume has surged by a significant 83% to $238 million.

This increased trading activity suggests growing trader interest and the potential for BSV’s price to continue moving upward.

When market confidence persisted, the price of Bitcoin Cash also surged. The robust performance of American stocks served as an example of the increase. The S&P 500 and Dow Jones both experienced gains of more than 1%, but the Nasdaq 100 index saw a leap of more than 1.10%. Cryptocurrencies have historically performed well on rising stock prices.

Bitcoin SV Price At Resistance Zone: Potential For An Upside Break

Meanwhile, the current price of BSV is encountering a horizontal resistance zone ranging from $38.5 to $40.6. This resistance zone is also in alignment with the Fibonacci 0.5 level, at $39.75.

The possibility of a successful breach of this resistance level may indicate a sustained higher trajectory for Bitcoin SV.

Concurrently, there exists a proximate support region ranging from $33.85 to $36.10, which aligns with the Fibonacci 0.618 level of $35.89 and the 20-day Exponential Moving Average (EMA) of $34.79.

In the event that the BSV price is unable to maintain its position above the designated support zone, there is a possibility of an impending negative trend.

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

Featured image from CoinPayments Blog

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Bitcoin SV (BSV) Notches 8% In The Last Day as Top Coins Bleed

BSV has bucked a bearish trend amid the general crypto market downturn, posting notable gains over the past 24 hours. Bitcoin SV (BSV) recorded an 8% 24-hour price increase, while Bitcoin succumbed to bearish pressure, dipping nearly 3% today, October 3.

As a result of today’s uptick, BSV now trades at $40.4, representing an 8% increase in the last 24 hours. Also, the token has recorded over 31% seven-day increase, regaining over 34% of its past month’s gains. 

These prominent strides confirm buyers’ dominance in the BSV market today. However, given the bearish state of the general crypto market, how long can BSV sustain this rally? What factors triggered this dramatic surge? Let’s find out.

Bitcoin SV Price Surges Amidst Controversy Surrounding CEO’s Resignation

BSV price gains correlate with the sudden resignation of nChain’s CEO, Christen Ager-Hanssen, on September 29. nChain is a firm that offers blockchain-based services related to the BSV chain. Its former CEO, Ager-Hanssen, immediately announced his departure from the group on September 29. 

Ager-Hassen mentioned reporting several issues to the nChain board, which included a conspiracy to defraud shareholders. He also stated that a significant shareholder orchestrated the conspiracy. 

Further, he claimed to discover evidence that BSV creator Dr. Craig Wright manipulated documents to deceive the court that he was Satoshi. 

However, Bitcoin SV’s supporter Calvin Ayre reviewed Anger-Hanssen’s departure. According to Ayre, Anger-Hanssen has never run a successful company and lies to steal assets

Notably, Bitcoin SV sparked to life after nChain released a statement that Stefan Matthews would take over as acting CEO.

BSVUSD

Recent Tweet By Supposed Bitcoin Founder Boosts Investor Sentiment On BSV

Another event that occurred around BSV was an October 2, 2023, tweet from an account claiming to be Bitcoin’s founder, Satoshi Nakamoto. Interestingly, the last tweet from this account was on October 31, 2018. 

According to a recent tweet, Nakamoto stated that Bitcoin is a predicated machine. He revealed his desire to explore other aspects of the project not contained in the whitepaper. 

The tweet attracted positive reactions, with one user stating that the first post since 2018 has to mean something. Since Bitcoin BSV supposedly aligns with the original Bitcoin vision, it benefited from this sentiment. The reactions likely increased investor confidence, leading to massive token demand and today’s 8% uptick. 

Although the real identity of Satoshi Nakamoto and his involvement in this saga remains a mystery, these controversies positively affected BSV’s price.

What Next For BSV?

BSV has flipped the $32.6 resistance into support to form a large green candle on October 2. It faces the next resistance at the $40.4 price level. A break above this level will likely send BSV up to $42. 

Since the Relative Strength Index (RSI) indicator is in the overbought zone at 81.9, it confirms the strong buying pressure pushing BSV up. Nevertheless, traders should expect a slight retracement in the coming days once the buyers begin to make a profit.

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Bitcoin SV Tallies 10% Gains On Weekly Chart, Nears $40 Mark

While the global crypto market capitalization has plunged in the past week, with most coins trading in the red, Bitcoin SV (BSV) bucked the bears. BSV has scored 10% price gains on the weekly chart. The coin gained 2.47% on the last day, showing a 0.57% price increase in the previous hour. With today’s performance, Bitcoin SV joined the list of top-performing coins over the past timeframe and might be nearing $40.

Bitcoin SV Back In The Spotlight

Bitcoin SV was created in 2018 due to a hard fork from Bitcoin Cash led by the controversial Craig Wright. The idea was to create a blockchain that could process transactions faster with a larger block size limit, a major bottleneck for Bitcoin Cash and Bitcoin. 

In addition, BSV has incorporated Ethereum-like capabilities such as native tokens, smart contracts, and other features to ensure interoperability within its blockchain. However, the token has failed to gain the sort of adoption it envisaged and hit an all-time low on May 8, bottoming at $29.17. But a series of events in the Bitcoin ecosystem has made the controversial token jump into the limelight. 

Related Reading: Coinbase Engages Legal And Political Aids In Battling SEC

Top among these is the congestion on the Bitcoin network caused by Ordinals NFT and BRC-20 tokens. Bitcoin SV supporters believe its high transaction throughput and low transaction fees make it a better blockchain than Bitcoin, and the numbers support it. Currently, the average transaction fee on BSV is about $0.035, while average Bitcoin fees have spiked to $31.50 as more users jump on the BRC-20 token trend. This has led to a debate in the Bitcoin community, with advocates for increasing the block size growing louder. 

This move has been rebuffed by core Bitcoin maximalists who believe that increasing this capacity would lead to greater centralization – As fewer people can run a node that operates using higher bandwidth. This could be Bitcoin SV’s gain as proponents believe it could provide an excellent alternative and fulfil llSatoshi Nakamoto’s dream of a peer-to-peer electronic money system as outlined in the original Bitcoin whitepaper. 

Related Reading: Ripple CTO Labels BEN Coin As Scam, Bitboy Reacts

Bitcoin SV Price Analysis 

At the time of writing, Bitcoin SV is trading at $35.98, and if the bullish momentum continues, BSV could target $40 in the coming days. However, before reaching the $40 target, Bitcoin SV bulls may encounter an intermediate hurdle in the $37-$39 range.  

BSV has experienced a bullish price swing this week: source @Tradingview

However, before reaching the $0.60 target, the bulls may encounter an intermediate hurdle in the $0.57 to $0.58 range. The SMA 20 is in the buy zone, which could indicate that investors are looking to accumulate more of the token, which is a bullish sign. In the event of a decline, substantial support is anticipated at $32. 

-Featured Image from iStock, charts from TradingView

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Bitcoin.org Hacked By Scammers For A Few Minutes. Someone Sent Them 0.4 BTC

Hackers took over the Bitcoin.org website and displayed the classic double your money scam for a few minutes today. Apparently, it was a DNS hack. Luckily, the Bitcoin community took notice and alerted Cobra, the pseudonymous website owner, as well as the company that hosted the domain. A few minutes later, Bitcoin.org was down. Sadly, a credulous person was faster than them and sent 0.4 BTC to the displayed address… or did he?

Someone sent half a bitcoin🤦‍♂️ pic.twitter.com/pnyJIHJZIN

— Harrison Bergeron (@coinableS) September 23, 2021

The transaction exists, but there’s a rumor that it might’ve been the scammers themselves, trying to make the operation look reputable. Just like a busker who put some change in his hat to encourage others to contribute. However, that’s just a rumor. Someone might’ve been scammed.

Related Reading | Old Bitcoin Miner Proves Craig Wright has No Access to 145 Tulip Trust Addresses

In any case, everybody else should thank Matt Corallo, a Bitcoin Core contributor who took it upon himself to contact the domain name registrars and managed to convince them to temporarily take down the site before some catastrophe happened. 

Namecheap to the rescue, thanks y'all https://t.co/HfmQVvUDt9

— Matt Corallo (@TheBlueMatt) September 23, 2021

What Does The Bitcoin.org Owner Think About All Of This?

When Cobra announced the Bitcoin.org hack, he or she said, “Currently looking into how the hackers put up the scam modal on the site.” So far, there’s no information on that. Cobra also said that Bitcoin.org “May be down for a few days,” but luckily that wasn’t necessary.

https://t.co/OsFgRFRRZb has been compromised. Currently looking into how the hackers put up the scam modal on the site. May be down for a few days.

— Cøbra (@CobraBitcoin) September 23, 2021

Earlier in the day, Cobra contacted via Twitter their new hosting company Cloudflare and told them that the website has never been hacked, and now that he moved to their servers, this happened. The company responded, and eventually, the original tweet disappeared.  

BTC price chart for 09/23/2021 on Bittrex | Source: BTC/USD on TradingView.com
Does This Have Anything To Do With Craig Wright AKA Faketoshi Nakamoto?

A few months ago, both Cobra and Bitcoin.org made worldwide news. Craig Wright, Australian entrepreneur and Satoshi Nakamoto cosplay artist, got a UK court to order the website to remove the Bitcoin Whitepaper from its servers. At the time, Yahoo! finance informed:

“Cobra, the pseudonymous creator of the Bitcoin.org website, has been ordered by London’s High Court to discontinue hosting its copy of the Bitcoin white paper.

Citing copyright infringement brought forward by nChain Chief Scientist Craig Wright, the judge had no option but to rule a default judgment because Cobra chose not to make an appearance.”

https://t.co/yc0aKbZcer is Hacked by Scam. pic.twitter.com/2qmRMS2lJh

— Wu Blockchain (@WuBlockchain) September 23, 2021

Does the hack have anything to do with Craig Wright? There’s not a single clue to indicate that, but, rumors are flying. He’s the only one incentivized to attack Bitcoin.org, they say. However, 0.4 BTC is a pretty great incentive. Maybe the scammers were just interested in scamming.

Related Reading | Craig Wright Wins Lawsuit On Bitcoin.org Hosting Bitcoin Whitepaper

In any case, to close all the loops, Yahoo quotes Cobra explaining why he chose not to make an appearance in court:

“Unfortunately the court rules allowed for me to be sued pseudonymously, however, I couldn’t defend myself pseudonymously. So I was put in an impossible situation of losing my privacy or losing the case in a default judgment.”

So, to sum it all up, Bitcoin.org is back up again and no one scammed you. All is well that ends well. 

Featured Image: Screenshoot from the hacked website | Charts by TradingView