The price of Bitcoin SV is making a comeback after it managed to add 22% to its price and almost hit $200 for the first time since June 11, 2020. Even though there are not many updates in the Bitcoin SV news as to why the BSV price is exploding, it is evident that the coin is inside a daily uptrend and above the 12-EMA and the 26-EMA.
In the daily chart of Bitcoin SV today, we can see that the coin stabilized the gains to 11% at press time, holding steady at a price of $182.94. The next step for the coin is obviously to crack the $190 and then $200 levels which are seen as major psychological marks for the coin.
Anyways, what is good in the cryptocurrency news is the fact that Bitcoin SV is making a serious comeback, and the path towards $200, $250, and even $300 is guaranteed if this upswing continues.
The only thing that did not work for many BSV investors is the fact that this breakout yesterday happened really quickly, allowing the coin to shed some of the gains. We still need to assess the real upswing trajectory of Bitcoin SV and see whether this move was caused by a buy order coming from a big whale or organic news.
All in all, we can see that Bitcoin SV (BSV) is positioned well on the market list, trading at the sixth place just above Litecoin (LTC) and below Bitcoin Cash (BCH) which is its brother from the Bitcoin family.
When it comes to market cap ratings and a potential way for BSV to overcome BCH and become the fifth largest coin by market capitalization, that could happen soon if the supply and volume sustain. However, there is still around one billion USD acting as the main difference in the total market cap between both coins.
Meanwhile, other updates from the market show that Bitcoin (BTC) is now trading at $9,268, while ETH is at $235. The prices of the fifth-positioned Bitcoin Cash (BCH) and seventh Litecoin (LTC) are stable with surges of over 3%, trading at $236 and $43, respectively. Down below, we can also see a good movement from Chainlink (LINK), which added 12% to its price and trading at $5.45 at press time.
DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]