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Bitcoin {BTC} hash rate mounts as Bitcoin SV {BSV} heads in the opposite direction

Bitcoin SV is ranked at #9 to the south of Binance Coin but above Monero in the market. The price rose marginally at a rate of 0.62% in the course of the past 24-hours. The trading volume recorded is $229.134 million, while the supply has 17,854,986 BSV coins in play. At present, the total market cap of Bitcoin SV is $2.117 billion. For now, BSV is priced at $118.59.

According to the data obtained from the candlestick chart connected to the BSV/USDT pair on tradingview, bearish force is greatly influencing this asset. The daily RSI [for 14 periods] is about to drop below 30 [it stands at 33.28 currently] which would lead to BSV being oversold. Support can be found close to the $110.3902 mark, while resistance may hamper further growth beyond $138.634 if the altcoin is fortunate enough to climb.

Since the 10th of this month, the Awesome Oscillator peaks have been brown in shade. The MACD line also headed beneath the signal line from 11th September. Craig Wright recently lost the case launched against him by members of Dave Kleiman’s family. Dave and Craig have been partners [whilst the former individual was alive] and allegedly mined half a million BTC together.

In comparison to both Bitcoin and Bitcoin Cash, BSV’s hash rate is heading towards a brand-new ATL [all-time low]. This isn’t particularly healthy for the asset, as security and transaction speeds may fluctuate.

Bitcoin SV was created as a result of a fork following the network update that occurred in November 2018. The project itself is backed by CoinGeek. While the project has been popular, it is often involved in disputes. One of the chief BSV enthusiasts aka Craig Wright claims to be the real “Satoshi Nakamoto”; till date he has been unable to prove the validity of these statements.

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.