Home / Crypto Currency / Bitcoin Cash SV Price Keeps Rising Despite Market Pressure

Bitcoin Cash SV Price Keeps Rising Despite Market Pressure

There are numerous cryptocurrencies to keep an eye on right now. Although not all of the currencies are performing as one would expect, things are not looking all that bad either. Bitcoin SV, or Bitcoin Cash SV, is still doing a pretty good job right now. It has finally gotten listed on Coinmarketcap, which might explain why its uptrend is still ongoing.

Bitcoin Cash SV Price Keeps on Trucking

It is rather interesting to note how there has been plenty of confusion regarding the Bitcoin Cash network protocol upgrade. Although Craig Wright clearly intended to fork Bitcoin Cash, many people are referring to his project as Bitcoin SV, rather than Bitcoin Cash SV. It will be interesting to see what the future holds in this regard, although this doesn’t affect the price in a negative manner so far.

Over the past 24 hours, there has been another 6% increase in USD value and a 12% gain over Bitcoin for BCHSV. That is a rather interesting trend, all things considered. Although there have been strong gains yesterday as well, most people expected the situation to turn around. Especially with more platforms enabling BCHSV trading right now, volatility would be a rather obvious result.

On social media, some interesting discussions are taking place. It is evident a lot of Bitcoin enthusiasts do not like Bitcoin Cash in the slightest, let alone this forked version. Even so, it seems there is a lot more animosity toward Roger Ver’s chain as being the “bigger shitcoin”, even though one in three believes both versions of BCH should not exist in the first place.

On the price front, it would appear users such as Sashimi expect big things for Bitcoin Cash SV. In fact, he considers a price of $120 to be very cheap. While no official price prediction is shared, there is a chance BCHSV will overtake the actual Bitcoin Cash in market cap before the year is over. That would certainly be rather interesting to keep an eye on, although it may take a while until such a trend materializes.

The technical analysis chart for Bitcoin Cash SV paints a very interesting picture first and foremost. Stu confirms this will be a crucial point for the forked version, as the value could either go up further or drop down significantly. Reaching the first target of over $140 might take a while, based on these market circumstances, although it would not necessarily be impossible to surpass that value either.

As is always the case in the cryptocurrency world, there is plenty of market suppression taking place. This does not just affect the Bitcoin Cash SV price, but also all other cryptocurrencies, tokens, and digital assets. Until something major happens, low prices and bearish pressure will remain the norm rather than an exception. That is not something to look forward to, but the situation will not change overnight either.

Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.

Read more

Check Also

Ripple Price Analysis: Break Below $0.2900 Could Speed Up XRP Losses

Key Highlights Ripple price seems to be struggling to clear the $0.3100 resistance area against the US dollar. There is a key bearish trend line formed with resistance at $0.3025 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could decline heavily if there is a break below the $0.2900 and $0.2880 supports. Ripple price is under pressure against the US Dollar and Bitcoin. XRP/USD failed to move past $0.3100 and now it could decline further towards $0.2650. Ripple Price Analysis There was a decent base formed near $0.2920 in ripple price against the US Dollar. The XRP/USD pair traded higher and broke the $0.3000 resistance area. However, buyers struggled to clear the $0.3090-0.3100 resistance. As a result, the price declined below $0.3020 and the 100 hourly simple moving average. The price retested the $0.2920 support area, which is currently protecting further losses. An initial resistance is the $0.3000 level and the 23.6% Fib retracement level of the recent decline from the $.3090 high to $0.2924 low. The stated $0.3000 level also coincides with the 100 hourly SMA. Above $0.3000, there is a key bearish trend line formed with resistance at $0.3025 on the hourly chart of the XRP/USD pair. The trend line coincides with the 61.8% Fib retracement level of the recent decline from the $.3090 high to $0.2924 low. Therefore, the price is likely to struggle near $0.3000 and $0.3020 if it corrects higher. Above $0.3020, the next key resistance is at $0.3090-0.3100. Looking at the chart, ripple price remains at a risk of a sharp decline if there is a break below the $0.2900-0.2880 support area. The next main support below $0.2800 is near the $0.2650 level where buyers may emerge. Looking at the technical indicators: Hourly MACD – The MACD for XRP/USD is slightly placed in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently well below the 50 level. Major Support Level – $0.2900 Major Resistance Level – $0.3020 The post Ripple Price Analysis: Break Below $0.2900 Could Speed Up XRP Losses appeared first on NewsBTC.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Disclaimer: Trading in bitcoins or other digital currencies carries a high level of risk and can result in the total loss of the invested capital. theonlinetech.org does not provide investment advice, but only reflects its own opinion. Please ensure that if you trade or invest in bitcoins or other digital currencies (for example, investing in cloud mining services) you fully understand the risks involved! Please also note that some external links are affiliate links.