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Bitcoin SV Poised for a Breakout Amid Craig Wright's New LawsuitBitcoin SV ( AMEX:BSV ) has been making headlines once again, largely thanks to the latest controversial actions of its most vocal proponent, Craig Wright. The Australian scientist, who has long claimed to be Bitcoin’s pseudonymous creator, Satoshi Nakamoto, is back in the limelight with a new lawsuit. This time, Wright is suing Bitcoin Core developers, insisting that Bitcoin SV is the true embodiment of Bitcoin, and seeking a staggering £911 billion in damages. As the legal battle unfolds, the market has taken notice, with BSV’s price seeing a modest 3% rise. But what does this mean for Bitcoin SV ( AMEX:BSV )? Craig Wright Claims Bitcoin SV is the True Bitcoin Craig Wright’s lawsuit targets Bitcoin Core developers, accusing them of altering Bitcoin’s original protocol with updates like SegWit and Taproot, which he claims have strayed from the original vision set out in the Bitcoin whitepaper. Wright argues that Bitcoin SV (BSV) remains faithful to the initial protocol, positioning it as the true representation of Bitcoin. However, this lawsuit follows a series of legal losses for Wright, most notably a ruling by the UK High Court that discredited his claims of being Satoshi Nakamoto. Despite this, Wright presses on, asserting that Bitcoin SV’s undervalued market position is a result of these misrepresentations by Bitcoin Core developers, which he believes justifies his demand for £911 billion in damages. Legal Controversy: Community Reaction Wright’s lawsuit has been met with a mix of skepticism and criticism from the broader crypto community. Prominent figures, including Hodlonaut, who previously won a defamation case against Wright, have mocked the legal action. Hodlonaut sarcastically suggested that Wright might be using AI tools like ChatGPT to craft his claims, reflecting the broader sentiment that many in the community consider his actions to be legally and factually baseless. Bitcoin SV Price Reaction: Small Gain Amid Legal Drama Despite the controversy, Bitcoin SV’s price saw a 3% jump in the last 24 hours, trading around $51.23 with a 25% decrease in trading volume, signaling that while the market is reacting, the enthusiasm is not overwhelming. The price touched a daily high of $51.91, showing that some traders may be betting on a bullish outcome. However, with skepticism surrounding Wright’s claims, many are cautious about any long-term bullish sentiment based solely on the lawsuit. Open interest in BSV ( AMEX:BSV ) futures has also risen by nearly 5%, indicating growing interest in the token despite—or perhaps because of—the legal drama. Whether this interest will translate into sustained gains remains to be seen, but the increase in futures activity suggests that traders are closely watching the situation. Technical Outlook: Is BSV Poised for a Breakout? From a technical perspective, Bitcoin SV ( AMEX:BSV ) appears to be on the verge of a potential breakout. Currently trading above key moving averages, BSV’s RSI (Relative Strength Index) stands at 60, signaling that it’s neither overbought nor oversold, leaving room for further gains. Immediate resistance is pegged at $55, a critical pivot point that could determine the direction of the next major move. If BSV ( AMEX:BSV ) manages to surpass this level, it could trigger a rally toward its next target of $115—a level that aligns with the highs from March 2024. Such a move would mark a significant recovery for BSV ( AMEX:BSV ), which is still far below its all-time high of $423. On the downside, support is currently set at $48, which could offer a favorable entry point for buyers looking to capitalize on a potential bullish run. If BSV ( AMEX:BSV ) dips to this level, a consolidation phase could occur before the token regains momentum. What’s Next for BSV? While the technical outlook for BSV ( AMEX:BSV ) is promising, the token’s future largely depends on the broader adoption and community sentiment surrounding Wright’s claims. As the crypto community continues to question Wright’s legal tactics and assertions, any further developments in his lawsuit could either boost or hinder BSV’s price action. For now, traders seem cautiously optimistic, with the potential for gains in the near term. However, given the controversial nature of Craig Wright’s involvement, Bitcoin SV’s trajectory is far from guaranteed. The next major move could be heavily influenced by external factors, including the outcome of the lawsuit, market sentiment, and overall crypto market conditions. Conclusion Bitcoin SV ( AMEX:BSV ) is trading at a pivotal point, both in terms of price action and its place in the broader crypto narrative. Craig Wright’s continued legal battles have put the token in the spotlight, but whether this attention will translate into long-term gains remains uncertain. For now, the technical indicators suggest a possible breakout, but traders should proceed with caution, keeping an eye on both the charts and the unfolding legal drama. If BSV ( AMEX:BSV ) can overcome its immediate resistance levels and break free from the shadow of controversy, it may see a resurgence, but it will need more than just legal headlines to reclaim its former glory.
Long
by DEXWireNews
BSV ANALYSIS There has been a sharp upward movement and this movement has ended from where we entered start on the chart and the correction has started from this point. It seems that our movement is a diametric. We have identified the first serious supply on the chart and it is expected that wave d will end in this range and then we will enter wave e. We specified the targets on the chart. We specified the invalidation level on the chart. Closing 1 daily candle above this level will violate the analysis For risk management, please don't forget stop loss and capital management When we reach the first target, save some profit and then change the stop to entry Comment if you have any questions Thank You
by behdark
3
BSV, a little gem that could be worth a ton in the future!BSV is a hardfork of BTC worth looking at based on fundamentals and real-world use. BSV is the native cryptocurrency of Bitcoin Satoshi's Vision (BSV), sometimes called Bitcoin SV: a blockchain created in 2018 after a hard fork from the Bitcoin Cash blockchain, which in turn was a hard fork of the original Bitcoin blockchain. Bitcoin networks can only process transactions. Whereas the Bitcoin SV supports advanced applications like smart contracts and NFTs as well. Bitcoin's block size is 1MB whereas Bitcoin SV's block size is 1GB. Thus, Bitcoin SV can store more data in a block. Based on recent technicals, BSV is still at bargain levels from a couple of years ago. I have a strong feeling this will be a 4-digit coin soon when BTC becomes too overvalued that the market will seek out "valuable discounted" forks for growth. BSV will be at the frontline when that season comes. BSV registered its highest net positive volume this month -- first time since May 2021. A hint that a trend shift is about to materialize with significant price growth ahead. Spotted at 46.00 TAYOR. Safeguard funds always.
Long
by JSAL
1
Why Is Bitcoin SV (BSV) Price Soaring Today?The Bitcoin SV price has recovered by over 270% from its all-time low of $23.30 recorded in June this year. Bitcoin SV (BSV), a hard fork of the Bitcoin Cash (BCH) blockchain, has been extending unprecedented gains. The crypto witnessed a spike in price by over 65% at the time of writing. The surge could be a result of the overall positive market sentiment, however, there is still more to it. South Korean Traders Fuel Bitcoin SV Demand The Bitcoin SV price has been propelled by its unwavering demand in the crypto space. In the last 24 hours, the BSV trade volume skyrocketed by a whopping 615.98%, clocking trades worth over $612.40 million. However, the most notable development was that the demand was mostly fuelled by South Korean traders. According to CoinGecko statistics, Upbit, a leading crypto exchange in South Korea, accounted for $513.81 million worth of BSV trades in the past 24 hours. It holds a massive share of 67.25% in the trade volume. This implies that BSV has caught the interest of South Korean investors. Recently, South Korea decided to devise a crypto regulation framework to curb illegal activities in the domain. In addition, in a December 27 update, it was revealed that the country made it compulsory for public officials to report their crypto assets, making a significant move towards regulating the domain. These developments could have attracted investors’ attention since a regulated domain provides a sense of security. Bitcoin SV Price Today At press time, the BSV price had spiked by 65.97% as the crypto traded at $89.32 on Thursday, December 28, 2023. Furthermore, the AMEX:BSV market cap increased by 65.73% to $1.7 billion. The digital asset attained a new 52-week peak after attaining a high of $89.50 during today’s trading session. Moreover, the recent surge is noteworthy since the crypto has rebounded significantly from its all-time low of $23.30 recorded on June 10, 2013. Since then, the BSV price has surged by over 271%. In addition, the crypto locked in impressive 1-month returns, soaring over 120%. However, the current price is still quite lower than its all-time high achieved in 2021. The digital currency’s ATH was recorded at $491.64 in April 2021. This suggests that the crypto has lost over 82% in value after hitting the peak.
Long
by DEXWireNews
BSVUSD On the MA100 (1w) for the first time in 2 years!Bitcoin SV crossed today over both the Falling Resistance of the April 12 2021 High as well as the MA100 (1w) for the first time in nearly two years. If the (1w) candle closes over it, it will be a bullish continuation signal. Trading Plan: 1. Buy if a (1w) candle closes over the MA100 (1w). Targets: 1. 100.00 (top of Channel Up and symmetrical +205.87% rise as the previous rise). Tips: 1. The MACD (1w) is on a Bullish Cross, still under 0.000 and on a huge Bullish Divergence. This clearly indicates that the market is transitioning to long term bullish. Still early as the 1week MA200 is over our target. Please like, follow and comment!!
CRYPTO:BSVUSDLong
by TradingBrokersView
BSVUSD: This move has potential but don't get excited yet.BSVUSD reached the 1W MA50 as it started the week on a strong bullish note, turning overbought on the 1D technical outlook (RSI = 81.503, MACD = 0.780, ADX = 33.231). We may not see the usual technical relief pullback that follows after overbought conditions as the 1W MACD just formed a Bullish Cross and remains under the 0.000 neutral level. This suggests that in case of a breakout, the upside potential is big. Target the R1 level (TP = 56.450), which is the strongest Resistance currently as it is where the 1W MA100 is headed to. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
CRYPTO:BSVUSDLong
by InvestingScope
1
BSV 2023 BREAKOUT PREDICTION: BACK TO GOLDEN LEVEL $400Since today BSV shows an interesting technical pattern of volume that can mean a coming time a structure volume. we like to study coins that can have time volume. There is unexpected data of an increase that could explode BSV to new highs. We did make a possibility where this structure volume can bring BSV in the predication of 2023 We found out that BSV is able to go back to the old key and golden level of $400 in 2023 Before we made this study, we did check all the reasons and trends that BSV will get it to level. This is a view from our side and is not meant to be trading advice. BSV seems to enter a new start of breakout soon. This update means for year 2023 Share with us what you think about it. Thank you
Long
by Goldenbreakout
2
BSV SEEMS TO ENTER NEW VOLUME WITH ATH BREAKOUTThis update is regarding BSV's long-term outlook. Based on our thorough analysis, it appears that BSV is poised for a notable surge, potentially leading to a new all-time high and surpassing the $400 target. This update stems from a trend signal we detected through a meticulous examination of the volume range. Our study suggests that BSV is currently entering a new trend characterized by the involvement of influential market participants, commonly referred to as whales. USDT seems an interesting stable coins for the orders of BSV. our focus lies not in blind optimism towards various cryptocurrencies, but rather in assessing specific coins based on factors such as market interest, technical analysis, and the likelihood of whales making strategic moves. In the case of BSV, we have closely monitored its past performance, particularly observing four previous pump trends. Based on our analysis, we believe that a fifth pump trend could be imminent as the cycle unfolds. This insight emphasizes the potential for further growth and prosperity within the BSV market. However, it is important to remain mindful of the inherent volatility of cryptocurrencies and the possibility of unforeseen developments. Let's see if this update can be a historical trend where we start for a new cycle BSV.
Long
by Goldenbreakout
3
BSV : NEW INCREASE TIME TO STARTAfter we have seen a movement in BTC, and BCH, the Technical side shows a breakout possibility on BSV. One thing is that BSV the only BTC that follows the idea of satoshi of Nakamoto 100% We expect that BSV can have coming time a volume increase since some pattern confirmation shows a high chance of a breakout. We will follow BSV to see If this breakout will play in the coming time over. One of the most targets is $79 followed by $110 There is a trend going on in HK with new exchanges, this can be a volume change for BSV also. It can take some time, but the interest will stay the same. Know the risks of trading, this update means only as expecting views and not trading advice. BSV info Bitcoin SV (BSV) is often claimed to be the coin that follows the vision of Satoshi Nakamoto more closely than Bitcoin (BTC) or Bitcoin Cash (BCH). This claim is based on more factors. Protocol adherence: BSV aims to restore and preserve the original Bitcoin protocol as described in Satoshi Nakamoto's whitepaper. It seeks to maintain the original design decisions and parameters, such as larger block sizes, to enable on-chain scalability.
Long
by Goldenbreakout
BSVUSD: Strong buy opportunity for +50% profit.BSVUSD hit the top of the former Channel Down pattern and is rebounding. The 1D time frame has normalized its previously overbought technicals (RSI = 63.544, MACD = 3.840, ADX = 63.502) and that can give rise to a new round of buying. As you can see the Fibonacci retracement levels form solid Support and Resistance levels, with the latest one being the 0.786 level that was almost hit on the last rally. Our target is a full gap filling (TP = 67.0000). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
CRYPTO:BSVUSDLong
by InvestingScope
3
BSV Why Bitcoin SV is a useless forkForked cryptocurrencies, which emerge as a result of splitting from the original blockchain, often face an uphill battle to establish themselves as valuable and distinct entities. One of the primary concerns is that forks are perceived as redundant copies of the original blockchain, lacking the same level of innovation, utility, and market demand. This perception leads some to believe that forks will struggle to gain widespread adoption and maintain significant value. Additionally, forks often encounter difficulties in building and sustaining communities and resources. Divided communities and limited developer support can hinder the progress of forked projects, preventing them from achieving the same level of growth and ecosystem development as the original chain. These challenges can also impact liquidity and network effects, making it harder for forked cryptocurrencies to compete effectively. Furthermore, the original blockchain, from which the forked cryptocurrency originates, usually retains its dominance in terms of market capitalization, brand recognition, and developer activity. This creates a significant hurdle for forks to overcome, as they face strong competition from the established and widely adopted original chain. The success of the original chain can overshadow the forked projects, diminishing their perceived value and hindering their ability to gain traction. In my opinion BSV Satoshi's vision could easily reach $12.10. Looking forward to read your opinion about it!
Short
by TopgOptions
1
✴️ Bitcoin SV Ending Diagonal | The Intuitive SignalIs this an ending diagonal or a triangle? Bitcoin SV just hit a new All-Time Low which is a major development and also a great signal for us "bottom fishers"... You know the saying, "once you hit bottom, the only place left to go is up". My intuition recently alerted me saying something like this, in a whisper... "Hey Alan, check BSV"... Well, not really, it was more like, "Look at Decentraland and BSV" on a bland tone while at the same time pictures of the charts were coming up in my minds eye. As you can see from the chart above, BSVUSD has been crashing since April 2021 with no major bullish or reversal signals. The pattern I mention at the start is true and the ATL... Oh wait, there is more. One classic and quite accurate signal comes in the form of divergence and these work great to alert about potential reversals. First, the chart | BSVUSD Weekly RSI As you can see, the RSI bottomed November 2022 and started to go up, while BSV continued down so this is a strong divergence, coupled up with the pattern, 8-May sessions Doji, the ATL and my intuition... Low risk (tight stop-loss) vs a very, very strong potential for rewards. Thank you for reading. This is not financial advice. I love you! Namaste.
CRYPTO:BSVUSDLong
by AlanSantana
2
BSV - Get Ready for VolatilityBSV was extremely volatile between 2019 - 2021. But starting in June of 2021 until today, volume and volatility really dwindled throughout the bear market. However over the past 6-8 months, volume has picked up and the price is slowly breaking out of an 18month falling wedge. Cue volatility! One piece of news that you cannot see in this chart is that Robinhood delisted BSV in mid-January and its BSVBTC pairing tumbled 40%. A bit of an overreaction in my opinion and as a result, BSV's USD gains have been minimal in comparison to other alts in the market. However, I think the shock of the BSVBTC dip is starting to wear off and I could see it regaining lost ground against BTC rather quickly, returning it to previous early January BTC levels and beyond. That would be close to a 50% gain and possibly more if BSV pumps like it has in the past. There's a bullish cross on the daily MACD as it hits the zero-line. I think BSV has entered bullish territory for the moment. As a result, I am long here in the hopes of at least a quick scalp as its recovers against BTC with the possibility of a huge return if it pumps. Let's wait and see.
BLong
by jpbrown1023