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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In an X post on February 3, Coinbase shared that it had officially withdrawn support for BSV on its platform.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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Can BSV Hold Its New 2023 Peak? Analysts Watch As Trading Volume Explodes

The Bitcoin Cash (BCH) blockchain’s hard fork, BSV, has been making record-breaking gains. With a price surge of more than 70% as of this writing, the cryptocurrency hit $84.8, a level not seen since April 2022.

The spike may be attributed to the prevailing optimistic market sentiment, however there are other factors at play for Bitcoin SV.

BSV’s Surge: South Korea Dominates

With this latest surge, BSV’s monthly gains have surpassed 82%, and its trading volume has risen noticeably to over $770 million. This rise appears to be influenced by the persistently optimistic market sentiment in the larger cryptocurrency market, with South Korean investors especially playing a significant role.

Upbit, a well-known cryptocurrency exchange in South Korea, was responsible for $515 million worth of BSV trades in the last day, according to CoinGecko data. With more than 67% of the transaction volume, it commands a huge proportion. This suggests that South Korean investors are interested in BSV.

At the time of writing, Bithumb, another well-known cryptocurrency trading platform in Asia, accounted for about 5% of all trades in the asset. By itself, South Korean cryptocurrency traders accounted for more than 75% of BSV’s entire trading volume on the previous day.

In 2018, Craig Wright initiated the creation of BSV by implementing a hard fork of BCH, which itself had undergone a hard fork from the original BTC chain in August 2017. Nevertheless, the asset has sparked significant debate as its originator asserts to be the true Satoshi Nakamoto, yet fails to provide definitive proof.

BSV Surges 80% Amidst ETF Anticipation

The market’s widespread excitement around the potential approval of a spot Bitcoin exchange-traded fund (ETF) in the US is one factor contributing to the rising value of BSV. As a result, throughout the last 30 days, the value of the Bitcoin fork has increased by nearly 80%.

To stop illicit activity in the space, South Korea recently made the decision to create a framework for crypto regulations. Furthermore, a December 27 update disclosed that the nation has mandated public officials to disclose their cryptocurrency holdings, marking a noteworthy advancement in the regulation of the space.

Given the sense of security that comes with operating in a regulated industry, investors may have taken notice of these developments.

Meanwhile, BSV is still down 82.29% from its all-time high in 2020, when it was among the largest cryptocurrencies by market capitalization, despite the coin’s recent price increase.

Often referred to as “Satoshi’s Vision” for Bitcoin, BSV experienced a little decline in its market value following a Coinbase statement. The top US cryptocurrency exchange said that, as of January 9, 2024, it will no longer support Bitcoin SV.

In October of last year, BSV was the victim of an empty block mining attack. An empty block attack occurs when miners consciously choose to omit transactions from the blocks they verify, slowing down the network for users in the process.

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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‘Original Bitcoin’ Makes Surprise 24% Climb As Crypto Markets See Red

Dubbed to be the “Original Bitcoin,” BSV, or Bitcoin Satoshi Vision skyrockets in the face of a crypto market crash seen in the past 24 hours. BSV is certainly generating a lot of attention from investors as it remains unfazed by the malingering crypto market decline.

BSV shoots to 24% or roughly $55.79 on Tuesday; on the other hand, Bitcoin (BTC) has spiraled down by 11% over the past 24 hours but somewhat diminished in value since Sunday.

A Bitcoin Cash (BCH) hard fork sired the emergence of the Bitcoin SV blockchains and the BSV token, which is referred to as the advanced version of the “Original Bitcoin.” Similar to Bitcoin – but better as the BSV creators claim.

Speed is the ultimate strength of BSV, they say. Bitcoin Satoshi Vision is described to enable incredibly fast and scalable transactions.

Suggested Reading | Ethereum Drops Below $950 On Uniswap Overnight – Here’s Why

BSV has shot up to 24% or around $55.79, Tuesday. Source: BSC News.
BSV – The Original Bitcoin?

The Bitcoin SV blockchain and its token continue Satoshi Nakamoto’s vision to keep the transaction fees affordable or low for its users and dreams to revert Bitcoin to its original form.

Even BSV’s whitepaper closely resembles Bitcoin’s. Craig Wright, the founder of BSV, claims to be the Bitcoin creator himself but has not been able to substantiate this humongous claim as of today.

The BSV creators see how the existing BTC protocol is hugely flawed and unreliable in structure. The BSV proponents believe that improving Bitcoin’s block size can immensely ramp up the chain’s scalability.

BSV Soars Amid Crypto Market Decline

Launched over four years ago, BSV continues to go sky-high in the wake of the decline in the crypto market. This is said to have been fueled by its listing in Huobi Japan, which will support the token and open more opportunities for BSV in Japan, a wider and increasingly lucrative market. The increased trading interest and support seem to have triggered BSV’s gains.

BTC total market cap at $416 billion on the daily chart | Source: TradingView.com

BSV is currently the 43rd biggest cryptocurrency in market capitalization, beaming at $1.08 billion. However, although the token is soaring, Bitcoin is still more valuable than BSV. Bitcoin has shaved off over 51%, while BSV has lost around 56%.

Suggested Reading | Dogecoin Shed 91% Of Its Value Since 2021 High – A Musk Tweet To Pump DOGE?

BSV appears to have been outperforming other digital assets despite the crypto storm, but Bitcoin isn’t the king for nothing – as it firmly holds its throne.

Can BSV beat Bitcoin on its own game? Well, there is only one king, after all. Bitcoin may be rattled and shaken, yet it remains unassailable to this day.

Featured image from CoinGeek, chart from TradingView.com