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Bitcoin SV {BSV} on its way towards $100; price analysis for the day enclosed


According to the candlestick chart connected to the BSV/USDT pair on tradingview [based on data obtained from the Huobi Exchange], buyers might aid Bitcoin SV to climb towards the $96.636 mark beyond which barriers can be a cause for concern. For the past 2 weeks, the peaks tied to the Awesome Oscillator all possessed the green shade which points to the arrival of bullish momentum.

On the other hand, BSV was finally able to escape the oversold zone a week back; the daily RSI [for 14 periods] is at 41.85 which signifies Bitcoin SV’s presence in the neutral zone. Similarly from 7th October onwards, the MACD line began moving further apart from the signal line, thereby causing the green histogram to widen. This points to a gradual increase in bullish pressure, although the asset has been consolidating till now.

While transactions may be rising in number, the combined value of these transfers is negligible in comparison to Bitcoin and Bitcoin Cash. Many hold BSV in high regard; Bitcoin SV “maximalists” believe that BSV is the original Bitcoin, and Craig Wright is the famed Satoshi Nakamoto.

Bitcoin SV is positioned at #9 to the north of Stellar Lumens as well as TRON in the market. The price grew at a rate of 4.55% in the course of the past 24-hours; this led to BSV heading all the way to $89.21 where it currently holds. The trading volume recorded stands at approximately $228.516 million, while the supply has 17,854,986 BSV coins in play for now. The total market cap of Bitcoin SV is $1.592 billion.

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.