Bitcoin SV (BSV) Price Analysis: Observation and Analysis of Bitcoin SV’s Unperturbed Market
Bitcoin SV stands for Satoshi Vision, is the result of the recent Bitcoin Cash hard fork that saw a forced upgrade roll out on the BCH blockchain. A portion of the chain had taken a new direction, termed as Bitcoin SV and has been months in the making. It is a full-node implementation for BCH, peer-to-peer electronic cash system that works for the fulfillment of Bitcoin’s vision. The primary focal points of Bitcoin SV are – stability, scalability, security, and safety. The BSV project is mainly backed by Coin Geek Mining with development work by nChain. The token is denoted by BSV and has a maximum supply of 21,000,000 coins.
According to the coin market cap, the mcap value traded at USD 1,148,120,091 in the opening of April 01 at 09:39 UTC. And the coin’s price traded at 64.97 USD. The market cap value ranks the cryptocurrency as the 12th largest in the market. This rank is also influenced by the circulating supply of 17,670,348 BSV coins. The current value at which the cryptocurrency is trading of USD 1,148,697,839 (09:39 UTC) and the price per coin sums up to 65.01 USD or 0.01573676. The overall market has been completely neutral with trivial highs and lows. However, the current value is higher than its all-time low on March 12 of USD 885,020,644 (03:34 UTC) by 29.79%. The cryptocurrency reached its peak value, before being neutralized, reached a value of USD 1,313,925,492 on February 27 at 05:34 UTC. The nonchalant market is proved by the insignificant difference in moving average from March 12 with the value of USD to the current value. There is a reduction in value of 0.93%. The non-moving market trend gives the bears the upper hand. A negligible rise in the price of USD offers lower resistance support.
Although the current market trend does not exhibit a distinguishing outcome, the forecasts for the future of the cryptocurrency look bright. The wallet investors state that the price of Bitcoin SV would boom in a year, with the values reaching 456.809 USD based on Bitcoin SV price prediction. Furthermore, the five year forecast suggests that the price value will increase by 2000% and reach 1436.630 USD. This analysis is optimistic with the rule of bulls on the token. Similarly, trading beasts analysis the market trend and predicts the price to reach a high of 14.16 USD by the end of 2019. By the end of 2022, the price of the coin is estimated to shoot up to an average of 471.44 USD per BSV. The digital coin also predicts that the digital currency is in for an optimistic close at the end of 2019 and the years to come. The site has estimated the value to reach 98.1 USD by the end of 2019 and by the end of the 5- year time period; the price would have bounced to 257.31 USD.
The current market trend does not suit the buyers and sellers. The market does not show a significant variation in the price and the value of the cryptocurrency. The bearish pressure holds down the market growth. If the predictions and the estimations were right, the future of the cryptocurrency would change, so will its investors. However, currently observing the market trend and not investing in it would be wise.