Bitcoin SV Price prediction 2021 – Will BSV Hit $500 in 2021?

This Bitcoin SV Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our BSV price analysis and prediction.

Many digital assets have spiked in 2021, with some beating their ATH from the 2017 bull run. Perhaps the most interesting is Bitcoin, which was well on its way to approach $70,000 if it sustained its bull run.

With BSV’s current statistics and performance, will Bitcoin SV become one of the best cryptocurrencies to invest in 2021? We’ll find out in this  Bitcoin SV price prediction. But before we start our  Bitcoin SV price analysis, let us first answer the question, “What is  Bitcoin SV (BSV)?”

What is Bitcoin SV (BSV)?

Bitcoin SV is the result of a lot of drama on the BTC blockchain. Moreover, it all started when BTC suffered a hard fork in 2017. However, splitting the network resulted in the development of a new altcoin named Bitcoin Cash

After a year, in 2018, Bitcoin Cash suffered a hard fork of its own and Bitcoin SV was born More so, Bitcoin SV explains itself as the original Bitcoin which is a crypto that remains true to the aim of pseudonymous founder Satoshi Nakamoto.

BSV’s main aims are delivering stability and achieving scalability, something that the real BTC blockchain has struggled to achieve.

Now that we have an idea about BSV, do you think BSV will be profitable crypto in 2021? Join me and let us see the charts in this BSV price analysis and BSV price prediction.

BSV Current Market Status

As of the time of writing this Bitcoin SV price analysis, BSV trades at $124 with a 24-hour trading volume of $712,187,695. The price of BSV has decreased by 12.64% in the last 24 hours.

Furthermore, BSV has a current circulating supply of 18,766,826.64 BSV. Currently, the top cryptocurrency exchanges for BSV are Huobi Global, OKEx, CoinTiger, FTX, and Hotcoin Global.

Now, let’s proceed to the next part of this BSV technical analysis for 2021.

Bitcoin SV Price Analysis 2021

Currently, Bitcoin SV holds 38th place on CoinGecko. But will the latest upgrades, development, and changes in the BSV blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this BSV price prediction article.

In the chart above, which is set in a daily time frame, we can see the Descending Triangle pattern. This is an important indicator since BSV has been showing bearish over the past month. Consequently, the descending triangle pattern hints that BSV will finally go bearish.

In the foreseeable future, we can say that BSV has a higher chance of going bearish than bullish. As shown above, at the beginning of this month, BSV turned from its bear to bull trend. This is the result of the high trade volume that happened in that period.

The Relative Strength Index (RSI) is above 27, which means that BSV is in an oversold state. Hence, this may proceed to a price reversal at any given time. 

Therefore, traders need to trade crypto cautiously and must not be affected by the market hype. Keeping all this in mind, crypto traders need to be aware and move away from unexpected losses due to the crypto market’s huge swings.

Let us also look at the Simple Moving Average (SMA) and the Exponential Moving Average (EMA) of BSV.

Since the start of 2021, BSV’s price has seen many bullish moves which are higher than the previous one. More so, these are followed by consolidation, fluctuations, and corrections right away. Taking this into consideration, BSV has a competitive market this 2021.

Binance SV Price Prediction 2021

The chart below shows that Binance SV has performed bearish over the past few days. If this trend continues, BSV might run along with the bears, falling towards $109.

Conversely, if the investors turn towards crypto, the bulls might take over BSV from its downtrend position. In simpler terms, the price of BSV might plummet to $344, a bullish signal.

Meanwhile, our long-term BSV price prediction 2021 is bullish. It has a high possibility of surpassing its current all-time-high (ATH) at about $491 this year. However, that will only happen if it breaks many past psychological resistances.

Conclusion

Bitcoin SV has a bright future ahead of it in 2021. With the ongoing developments happening within the BSV ecosystem, as well as in the overall crypto market, we may see BSV reach new heights.

Bullish BSV price prediction 2021 is $344. As said above, it may even reach $500 if investors have decided that BSV is a good investment in 2021, along with mainstream cryptocurrencies like Bitcoin and Ethereum.

FAQ

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

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