{"id":61322,"date":"2023-05-09T12:53:53","date_gmt":"2023-05-09T12:53:53","guid":{"rendered":"https:\/\/coinjournal.net\/news\/heres-why-the-bitcoin-sv-bsv-price-just-went-vertical\/"},"modified":"2023-05-09T12:53:53","modified_gmt":"2023-05-09T12:53:53","slug":"heres-why-the-bitcoin-sv-bsv-price-just-went-vertical","status":"publish","type":"post","link":"https:\/\/coinalsat.com\/en\/heres-why-the-bitcoin-sv-bsv-price-just-went-vertical\/","title":{"rendered":"Here\u2019s why the Bitcoin SV (BSV) price just went vertical"},"content":{"rendered":"\n<p dir=\"ltr\">Bitcoin SV price surged to the highest level since March 1 as investors moved to the coin, which is an alternative to&nbsp;<a rel=\"noopener\" target=\"_blank\" href=\"https:\/\/coinjournal.net\/bitcoin\/\"><u>BTC<\/u><\/a>. BSV jumped to a high of $42.10, which was about 48% above the lowest level this year. The coin&#8217;s market cap has jumped to more than $748 million.<\/p>\n<h2 dir=\"ltr\">Is this a pump-and-dump scheme?<\/h2>\n<p dir=\"ltr\">There was no news that pushed Bitcoin SV higher on Tuesday. A likely reason why the BSV is rising is because some investors believe that it is a better alternative to Bitcoin. As we wrote in this&nbsp;<a rel=\"noopener\" target=\"_blank\" href=\"https:\/\/coinjournal.net\/news\/why-is-the-crypto-market-down-today\/\"><u>article<\/u><\/a><strong>&nbsp;<\/strong>on Monday, Bitcoin&#8217;s fees jumped on Monday because of elevated congestion in the network.&nbsp;<\/p>\n<p dir=\"ltr\">As a result,&nbsp;<a rel=\"noopener\" target=\"_blank\" href=\"https:\/\/coinjournal.net\/exchanges\/binance\/\"><u>Binance<\/u><\/a><strong>,&nbsp;<\/strong>the biggest&nbsp;<a rel=\"noopener\" target=\"_blank\" href=\"https:\/\/coinjournal.net\/exchanges\/\"><u>crypto exchange<\/u><\/a><strong>&nbsp;<\/strong>in the world, suspended Bitcoin withdrawals several times on Monday. Bitcoin SV, which has less volume than the main Bitcoin, is therefore seen as a better alternative. For one, its transactions take less than 2 seconds to complete while the average transaction fee is about $0.0001. Also, the network can handle over 50,000 transactions per second (tps).<\/p>\n<p dir=\"ltr\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">BTC is unusable, why not just use something else like BSV?<\/p>\n<p>&mdash; whalechart (@WhaleChart) <a rel=\"noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/WhaleChart\/status\/1655314443524272128?ref_src=twsrc%5Etfw\">May 7, 2023<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p dir=\"ltr\">However, it is worth noting that the BSV price rally could be a pump-and-dump scheme. This is a situation where insiders or large holders buys an asset, promote it, and then exits at a profit, leaving buyers holding the bag. This situation is common among low-volume coins like Bitcoin SV.<\/p>\n<h2 dir=\"ltr\">Bitcoin SV price prediction<\/h2>\n<p><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/media.igms.io\/2023\/04\/09\/1683636775738-9f59b13c-dd45-44be-a2c7-49108ea1fce6.png\" style=\"width: 693px;height: 337.26px\" class=\"fr-fic fr-dib\" width=\"693\" height=\"337.26\"><\/p>\n<p dir=\"ltr\">The daily chart shows that the BSV price has been in a strong bearish trend. It has crashed by over 90% from the highest point on record. The coin has also moved below all moving averages. It moved slightly above the crucial resistance point at $34, the lowest point on November 22 last year.<\/p>\n<p dir=\"ltr\">Therefore, I believe that this Bitcoin SV rally does not have legs. As such, there is a likelihood that it will resume the downward trend to where it was before it jumped. This could see it retreat to the next key support at $30.<\/p>\n<p>The post <a rel=\"noopener\" target=\"_blank\" href=\"https:\/\/coinjournal.net\/news\/heres-why-the-bitcoin-sv-bsv-price-just-went-vertical\/\">Here\u2019s why the Bitcoin SV (BSV) price just went vertical<\/a> appeared first on <a rel=\"noopener\" target=\"_blank\" href=\"https:\/\/coinjournal.net\">CoinJournal<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"\n<p>Bitcoin SV price surged to the highest level since March 1 as investors moved to the coin, which is an alternative to&#160;BTC. BSV jumped to a high of $42.10, which was about 48% above the lowest level this year. The coin&#8217;s market cap has jumped to more than $748 million. Is this a pump-and-dump scheme? [&#8230;]<\/p>\n<p>The post <a rel=\"noopener\" target=\"_blank\" href=\"https:\/\/coinjournal.net\/news\/heres-why-the-bitcoin-sv-bsv-price-just-went-vertical\/\">Here\u2019s why the Bitcoin SV (BSV) price just went vertical<\/a> appeared first on <a rel=\"noopener\" target=\"_blank\" href=\"https:\/\/coinjournal.net\">CoinJournal<\/a>.<\/p>\n","protected":false},"author":5,"featured_media":61323,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[48,48,48,48,48],"tags":[],"class_list":["post-61322","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Here\u2019s why the Bitcoin SV (BSV) price just went vertical - CoinAlSat.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinalsat.com\/en\/heres-why-the-bitcoin-sv-bsv-price-just-went-vertical\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Here\u2019s why the Bitcoin SV (BSV) price just went vertical - CoinAlSat.com\" \/>\n<meta property=\"og:description\" content=\"Bitcoin SV price surged to the highest level since March 1 as investors moved to the coin, which is an alternative to&#160;BTC. BSV jumped to a high of $42.10, which was about 48% above the lowest level this year. The coin&#8217;s market cap has jumped to more than $748 million. Is this a pump-and-dump scheme? 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BSV jumped to a high of $42.10, which was about 48% above the lowest level this year. The coin&#8217;s market cap has jumped to more than $748 million. Is this a pump-and-dump scheme? 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