The digital asset market has yet again seen bullish returns for Bitcoin and several altcoins. The market gained traction. Many altcoins have performed exceptionally on the day. Now, the price of Bitcoin SV has gained traction which has seen it takes Tron’s eleventh position on the list of the top digital assets by market cap.
With a $40 million advantage over Tron, the price of Bitcoin SV has gained no less than 80.29% in the past 24 hours to trade at $113.22. This has reportedly increased BSV’s volume to over one trillion USD in one day.
Bitcoin SV Price Prediction: The Price of Bitcoin SV on the Day Makes it One of the Biggest Gainers
For the short term outlook, the price of Bitcoin SV initiated a huge jump that saw it enter today at 117.19%. From the chart, we can the Bollinger Bands indicating a great divergence product with the high volatility seen by the altcoin. The price range is to the upper band. This is what forces the upward moment of the price of Bitcoin SV.
We can also see that the bearish indicator doesn’t show any signs of life for now. This allows us to reach the consensus that there will still be a hike in the price of Bitcoin SV in a few more days at least.
Bitcoin SV Price Prediction: Investors to Re-inject Money Into Bitcoin SV
CMF has shown a negative level although with an upward pattern. This means investors have collected profits and they are going to re-inject money into the ecosystem in a bid to make prices bullish again.
For the medium-long term outlook, the picture is similar to an extent. BSV indicates a large green candle indicating the current rise and its support at $58.32, with a maximum resistance position at $140.
We can see a key support flagged by the 30 EMA, which is far from the price of Bitcoin SV currently for the time being.
RSI remains at overbought levels in the BSV/USD market.
Note that momentum for its part doesn’t necessarily affirm the current upward movement of BSV/USD after the price of Bitcoin SV gained over 80%.
Bitcoin SV Price Forecast: Positive News Have Helped Push the Price of Bitcoin SV
Bitcoin SV has been subject to trivialization by several exchanges, after Binance, arguably one of the largest trading platforms retaliated against the digital asset after the threats Craig Wright made about community influence on the social media platform, Twitter.
Notwithstanding, there has been a number of positive reports about BSV today. One of which was news that a Twitter user brought evidence which indicated that the coin managed to generate block 1.2 GB capacity in its Blockchain after 10255 transactions. This is an unprecedented fact that’s demonstrating the BSV’s strength as a large data storage Blockchain.
For now, the price of Bitcoin SV is in a good moment. Bitcoin SV’s price was at $110.49 as of now with a market cap of over $1.97 Billion. It is currently number 11 among the top cryptos by market cap with a trading volume of $325.89 Million. The live coin price of Bitcoin SV was BSV 74.62 over the past 24 hours.