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Bitcoin SV hash rate wanes as price plummets; will Craig Wright and Co. ever recover from the blow?

Bitcoin SV is ranked at #9 underneath Binance Coin but ahead of Monero in the market. The price tanked at a rate of 2.79% in the course of the past 24-hours. The trading volume recorded is $303.748 million, while the supply has 17,854,986 BSV coins in play. As of this moment, the total market cap of Bitcoin SV is $2.208 billion. The price of BSV rests at $123.70 for now.

The hash rate has sunk to achieve a new all-time low. Miners shall interpret this as good news, although a similar response cannot be expected from BSV users. Even in comparison to Bitcoin Cash, Craig’s dubious virtual currency is being questioned.

Some analysts believe that BSV will soon cease to exist, as Wright’s experience with numerous lawsuits has so far not yielded a single verdict in his favor. Yet his promises have kept growing, but none of them have been fruitful even to this day.

According to the data obtained from the candlestick chart linked to the BSV/USD pair on tradingview, BSV might soon reach oversold territory. The 4-hourly RSI is at 33, and the MACD line has stayed south of the signal line since 9th of September this year. Support lies near $120.1, and resistance may block further climbs of the asset beyond the $138.930 mark. The majority of peaks for the Awesome Oscillator are underneath the zero line.

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.