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Price Analysis

Bitcoin SV (BSV) Price Analysis: BSV’s Unprecedented Bearish Path is to Stay there for Some More Time; Recent Revival is Tough

Bitcoin SV or Bitcoin Satoshi Vision is a full-node implementation of Bitcoin Cash. It is a hard fork of Bitcoin Cash. It is considered a community-activated update of the BCH. It was set up with the support of CoinGeek Mining and other major miners of the market. This coin facilitates the miners with a BCH implementation option to build their applications on their platform.

Current Statistics-

Bitcoin SV

  • Bitcoin SV (BSV) is ranked at 14th in the crypto market.
  • It has a negative 36.48 % of ROI (Return on Investment).
  • The total coins in circulation stand at 17,730,511 BSV.
  • The current market cap as on 17th April at 02:09 UTC is 993,271,601 USD.
  • The value of each coin stands at 56.02 USD and 0.01072630 BTC.
  • The 24 h volume stands at 169,090,328 USD at the same UTC.

Comparison-

Bitcoin SV (BSV) has started the year with a whopping 93 USD price. It was considered as one of the few crypt coins of the time which was not affected by the crypto winter. But, it failed to continue the growth rate and fell to its lowest on February 6th at 58 USD. The 1st April market boom has helped the coin to rise 33% of its value in just a single day. It started to fall back in a few days. We can see the instability of the coin by comparing the prices of the past month. The value of market cap on 17th March was 1,210,011,351 USD, and the value of each coin was 68.48 USD. The current market cap is 17.91 % less than the market cap of 17th March. And the same way coin’s value in USD also has fallen back by 18.19 % in the last 30 days.

Prediction-

We predict the coin to fall even more. But it should stop at 50 USD level. Then it would start rising, and the next resistance will be there at 70 USD. The inconsistency in the price will be there always. But the coin has the potential to touch 90 USD by the end of this quarter. And with respect to market changes, the coin will be traded above 120 USD by the end of 2019. But, the price will be subject to many variations which may create panic in the market leading ultimately to crowding out.

Conclusion-

We advise short term holders to make a buy at 50 USD. Long term holders should hold their positions tight to get at least 3 times the price of each coin.

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Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.
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