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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
BSV Unlocking Potential: The Perfect Entry Point for Profits 💰**Short Fundamental Analysis of Bitcoin SV (BSV)** **Fundamentals** Bitcoin SV (BSV) is a cryptocurrency that emerged in 2018 from a hard fork of the Bitcoin Cash (BCH) blockchain. It aims to restore the original Bitcoin protocol described in Satoshi Nakamoto's whitepaper, emphasizing scalability, stability, and compatibility with traditional financial systems. BSV promotes itself as a platform for enterprise-level applications and digital data storage. **Key Features** * **Large Block Size:** BSV has a larger block size than BTC and BCH, enabling more transactions to be processed per block. * **On-Chain Scalability:** BSV prioritizes on-chain transactions rather than sidechains or off-chain solutions. * **Data Storage:** BSV supports large data storage on the blockchain, enabling applications like smart contracts and data registries. **Recent News** * **nChain Releases New Version of Bitcoin SV Node:** nChain, the developer of BSV, released a new version of its node software, incorporating performance improvements and bug fixes. * **SVPool Launches Enterprise-Grade Bitcoin SV Mining Pool:** SVPool, a mining pool focused on BSV, launched its enterprise-grade service, targeting large mining operations. * **BSV Integration with Merchant Services Expands:** Multiple merchant payment platforms and point-of-sale (POS) systems are integrating BSV support, increasing its adoption for retail transactions. **Disclaimer** Investing in cryptocurrencies carries significant risks, including volatility, security risks, and regulatory uncertainty. Investors should carefully evaluate their risk tolerance and investment objectives before making any cryptocurrency investments. Please note that this information is for general informational purposes only and should not be construed as investment advice.
Long
by MoonTradingForecast
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Bitcoin SV (BSV) Breaks Out of Slump, Soars 64% in Just 30 DaysThe post Bitcoin SV (BSV) Breaks Out of Slump, Soars 64% in Just 30 Days appeared first on Coinpedia Fintech News Bitcoin SV (BSV) has caught the crypto world’s eye with a remarkable 64% gain in the past month, thanks to its inclusion on Binance, one of the world’s top cryptocurrency exchanges. This substantial increase came after BSV’s split from Bitcoin Cash (BCH) in late 2018, pushing its current trading price to $52.04, up significantly from just $34.08 a week ago. BSV‘s Impact BSV, a significant Bitcoin (BTC) fork and a proof-of-work (PoW) cryptocurrency in 2023, is making waves in October 2023, reaching a peak value of over $58 on major spot markets. The key driver behind this surge is BSV’s listing on Binance, a major crypto exchange. BSV hasn’t seen such heights since mid-September 2022, and it’s not just a one-day wonder. BSV has been on a winning streak, climbing over 90% since its boost on September 27th. It’s important to remember that BSV hit an all-time high of $491.64 during the last crypto craze but then took a hit, losing over 95% of its value. Now, it’s finding its stride again, especially after rumors of a Bitcoin ETF adoption. SEC Steps In the Picture The recent rise in Bitcoin SV’s (BSV) value has some experts linking it to the potential approval of a spot Bitcoin ETF by the U.S. SEC. This surge happens amidst ongoing disputes within the BSV community, most notably the resignation of Christen Ager-Hanssen, a prominent BSV supporter, from his role as CEO of nChain due to disagreements with BSV leader Craig Wright. This surge sets the stage for possible new investors and a challenge against the formidable barrier at $61.99. Bitcoin SV’s journey remains captivating as it navigates the cryptocurrency market’s ups and downs.
Long
by DEXWireNews
Brief Analysis——BSVAs the time of BTC halving approaches, the market is once again focusing on tokens that are about to undergo halving these days. In June this year, tokens such as BCH and XEC that were favored by the halving experienced a short-term bullish trend, and then turned to fluctuate for half a year. Today, BSV, as a fork of the fork, has generated continuous gains. The halving will affect the supply of tokens, which is good for the long term. But as can be seen from the movement of LTC, which has completed its halving, excessive FOMO makes traders vulnerable to whale harvesting. It is better to make judgments based on technical analysis. Before technical analysis, we list the tokens that will be halved within a year and the countdown information for reference: Countdown to BSV halving : approximately 175 days Countdown to BTC halving: approximately 187 days. Countdown to BCH halving: approximately 167 days. Countdown to ETC halving: approximately 251 days. Countdown to DASH halving: approximately 261 days. Let’s first take a look at BSV’s performance in June this year. A very classic combination can be seen from the WTA indicators. Whales appear when the price rises rapidly. When the long upward pin-bar appears, the whale begins to take profits, and gradually disappears from the WTA indicator. Afterwards, the number of participants begins to decrease and the price gives back most of its gains (we represent this part with a black rectangle and a red arrow). Before this week’s rise, we can see that whales were already involved in trading on October 2. If we look at the green rectangle area alone, this also fits the classic combination of disappearing whale + long upward pin-bar = price giving back almost all of its gains. This week’s rise has once again attracted whales into the trade. Everything is normal for the current rise. BSV is now close to the June high, which is a key position where bears will gain strength. If a long red candle or a long upward pin-bar appears in the subsequent movement, then it is possible that BSV’s rise will come to an end. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
by Sypool
Bitcoin SV (BSV) Surges as BTC ETF Approval Hopes IncreaseBitcoin SV has once again emerged as a standout performer, dazzling investors and enthusiasts alike. Over the past 24 hours, BSV has surged by a remarkable 12.0%, outpacing its digital currency counterparts. This remarkable uptrend is a testament to the undying optimism and resilience that has become synonymous with the crypto market. On a sunny Tuesday in the world of digital assets, the spotlight was firmly on Bitcoin SV. While the entire market was abuzz with activity, it was BSV that captured the attention with an impressive surge of over 12%, propelling its price to $38.32. The exuberance extended to other major cryptocurrencies as well, with Solana following suit, posting an 8% increase in its value. Not to be outdone, Bitcoin Gold (BTG) also joined the rally, surging by ++9.42%, and Bitcoin Cash (BCH) made significant gains, moving up by +4.23%. However, it was Bitcoin SV that led the pack, reflecting the renewed hope and optimism circulating within the crypto space.
Long
by DEXWireNews