The Bitcoin SV (BSV) rally did not manage to keep up to its highest level. For now, BSV survives with significant gains, but the price is yet to dump.
Bitcoin SV Exploded in Early 2020, but Rally Viewed with Suspicion
Bitcoin SV, with its market price igniting at the beginning of 2020, has already completed another episode of unusual price action. The asset bounced off the $260 range, only to rally back above $314. BSV hovers close to its highs at 0.03 BTC, a position not seen since the asset forked in November 2018.
But just like last time, which led BSV above $330, the price action is viewed with suspicion. During the past rally, some evidence of faked volumes and wash trading were seen. But the overall expectation is that the current price range cannot hold.
$BSV
This is how I expect this entire saga to unfold. pic.twitter.com/dT1IKO1qz0
— DonAlt (@CryptoDonAlt) January 21, 2020
Popular crypto analyst, DonAlt, has predicted that Bitcoin SV will follow the same colossal crash course that Enjin coin endured during 2018. He comments on the striking similarity between the two fractals, and expects Bitcoin SV to plummet beneath $100 – a 68% decrease from its current $315 valuation (at time of writing).
Without a concerted effort, and with volumes slowing down, BSV may continue to slide. This is not unusual altcoin behavior, where spectacular rallies are followed by the price unraveling. In the case of BSV, this may happen even faster, as the coin loses its artificial support.
The BSV rally has also been in a way predicted by the Bitcoin SV proponents, and awaited by the community. On social media, there were multiple mentions of big events coming in 2020. Right now, the Bitcoin SV market is much smaller, and allows for speculation to lift the prices. In a way, BSV resembles the early BTC market, where direct speculation could lift the prices easier, without the pressure of futures markets.
Mining, Transactions, Pick Up in Early 2020 to Challenge Bitcoin
Bitcoin SV expanded to $315.10, rising close to 10% net in the past day. Trading volumes remained around $3.36 billion in 24 hours, with a 47% share of trades against Tether (USDT). Inflows of stablecoins can lift liquidity overnight. This time, BSV saw its biggest rallies on the Bibox exchange, as well as OKEx, where previous doubts of faked volumes have surfaced.
The recent price behavior of Bitcoin SV has also raised doubts on whether it’s wise to short the coin. With high pump activity, attempting to short the coin may lead to significant losses. At the same time, buying the asset outright exposes to risks that BSV would slide, leaving bagholders with their depreciating investment.
Bitcoin SV transactions continue to reach above Bitcoin (BTC) activity, with around 450,000 transactions per day. The Bitcoin network still carries closer to 300,000 transactions per day. In early 2020, the BSV hashrate has also gone parabolic, doubling within days to above 3.5 EH/s, or 3.5 quintillion hashes per second. But Bitcoin’s mining is still unchallenged, and roughly 30 times higher at above 100 quintillion hashes per secong.
Do you think Bitcoin SV is primed for a steep decline? Add your thoughts below!
Images via Shutterstock, Twitter @CryptoDonAlt The post appeared first on Bitcoinist.com. origin »
Bitcoin’s price dropped to $86,000 on Feb. 27 after struggling to maintain support at $88,000 for the past two days. The sudden price drop caused a swift and aggressive reaction across the market, with everyone from institutions to derivatives traders suffering losses.
Bitcoin is facing significant downward pressure with its price falling below $90,000 for the first time since November 2024, as whale addresses decline and technical indicators signal bearish momentum.
Bitcoin’s price remains in a consolidation phase, with technical indicators showing indecision. Traders watch key levels to gauge the next move.
The post Bitcoin (BTC) Price Consolidates Below $100,000 as Whales Await Clear Direction appeared first on BeInCrypto.
Bitcoin’s price remained in a tight range on Monday, continuing a trend that has persisted since November. Bitcoin (BTC) was trading at $96,500, where it has hovered for the past few days. The price is about 12% below its highest…
The crypto market has been experiencing significant volatility, with the Bitcoin price leading the charge. Over the past month, BTC has been trading sideways, recording declines that have pushed its value below the $100,000 mark.
The latest Consumer Price Index data is creating both opportunities and risks for Bitcoin investors. January 2025’s inflation figures have exceeded expectations, potentially setting the stage for significant Bitcoin price movements in either direction.
The Bitcoin price appears to have settled within the $92,000 – $102,000 consolidation range, sparking discussions about the coin’s future trajectory. While it remains unclear whether the premier cryptocurrency has enough momentum to forge new all-time highs soon, it would take significant bearish pressure to pull down the BTC price.
The price of Bitcoin (BTC) suffered a significant loss on Friday as prices dipped below $102,000 marking the end of a rather turbulent trading week. As the global financial markets weathered major losses, Bitcoin made no new price discovery, casting more speculations over the bull market.
Bitcoin price prediction witnessed a sharp price drop following bearish expectations in the U.S. equities market.
The drop below the mid-range support could spur a deeper BTC correction to $92kThe post Bitcoin price prediction bearish ahead of Fed meeting - BTC dives 6% appeared first on AMBCrypto.
Although Bitcoin price action is still holding above the $100,000 price level, the past 24 hours have been highlighted by a 2. 5% decline. According to liquidation data from Coinglass, this decline has seen $65.
Bitcoin (BTC), the flagship crypto asset, presently trades above $104,000 following a significant 10. 98% price rally in the last week. Despite recent sideways movements after a rejection in the $105,700 zone, certain trading indicators signal this uptrend is likely to continue leading to new price discovery.
Bitcoin price resumed its bullish trend and neared its all-time high of $108,200 ahead of Donald Trump’s inauguration and after the encouraging U.S. inflation data.
The Bitcoin price has spent the majority of the past seven days consolidating around the $94,000 mark with signs of a break to either side. According to a crypto analyst, Bitcoin’s recent price movements have led to the creation of liquidity blocks observed between the $86,000 to $104,000 range, which raises an equal likelihood of a bounce towards $104,000 or a downside break to $86,000 from the current price.
Bitcoin tested the $92,000 level yesterday after falling from a weekly high of $102,000 as sell pressures mounted Macroeconomic factors cause doubts about the market strength as sticky inflation becomes a concern Spot crypto ETFs logged large outflows on Wednesday following the release of the Fed meeting notes Bitcoin’s price has fallen from a high […]
The post Bitcoin price analysis: economic headwinds push price lower appeared first on CoinJournal.
The Bitcoin price has struggled to reclaim previous price highs above $100,000, with bearish sentiment dominating the market. Currently, the Bitcoin price is retesting the support line of an Ascending Channel after crashing below $95,000.
The US Federal Reserve’s public consideration of reduced interest rate cuts in 2025 resulted in numerous negative effects on financial markets. Aside from a 17% price loss for Bitcoin, data from Binance exchange shows the BTC market has now developed its largest spot-perpetual price gap.
This week was one of two distinct halves for the price of Bitcoin, with the premier cryptocurrency rising to a new all-time high and dropping by about 13% a few days later. On Friday, December 20, the BTC price dropped to as low as $92,000.
The price of Bitcoin fell to around $92,000, Friday afternoon, December 20 after the US Federal Reserve’s rate cut triggered a sharp selloff in the crypto market. However, the premier cryptocurrency seems to be recovering nicely, having returned above the $97,000 level on the same day.
After crossing an all-time high, the bitcoin price continues to capture the market by consistently proving and solidifying its role as the leading cryptocurrency. However, with its recent price slowdown, top emerging altcoins like PropiChain are brazing up for the market.
Bitcoin‘s scarcity is growing remarkably in the market as small and large-scale investors continue to accumulate a substantial portion of the available coins, which could bolster BTC’s value in light of recent upside price momentum, signaling a potential extension of the uptrend.
The crypto market shed 6. 48% (roughly $240 billion) yesterday as Bitcoin’s fall from $101,000 to a daily low of $93,000 sparked $750 million in liquidations. Major cryptos have begun to recover, with some alts already logging double-digit price increases.
So far, the Bitcoin market continues to demonstrate resilience as it maintains its price above the $90,000 price market despite various factors influencing its price movements. Amid this, a CryptoQuant analyst, aytekin466, recently shared insights into whether the cryptocurrency could face another significant price correction.
The price of Bitcoin (BTC) has dipped by 1. 66% in the last day after failing to break past $102,000 on Friday. Currently, the crypto market leader seems to be in consolidation, with little indication of its next price movement.
Bitcoin has been navigating a whirlwind of volatility recently, with its price repeatedly breaking and losing the highly anticipated $100,000 level—not once, but twice. This rollercoaster movement has captivated investors, making Bitcoin’s price action more intriguing than ever.
Bitcoin price has performed well this week, crossing the important milestone of $100,000 and peaking at $104,000. Bitcoin (BTC) surge occured as data indicated continued investor appetite for the digital currency, even at a six-digit price. Notably, data from SoSoValue…
The Bitcoin price has continually tested resistance levels above $95,000 in its pursuit to reach and surpass the anticipated $100,000 all-time high. Following its surge to $98,000, a crypto analyst has asserted that the BTC price has officially entered the parabolic phase of this four-year market cycle.
Bitcoin‘s recent upward momentum appears to be losing steam as the digital asset has shifted toward bearish territory, sparking speculations about upcoming price corrections. However, considering several factors and trends, these much-anticipated price pullbacks for BTC might be short-lived.
Bitcoin price is consolidating below the $100,000 resistance. BTC bulls might soon attempt to breach the stated milestone and push the price further higher. Bitcoin started a fresh increase above the $96,500 zone.
Bitcoin’s surge lately has brought its price to a new high of $97,584, according to an analysis of price chart shared by Patric H. (@CryptelligenceX) and data from Santiment. Besides, this breakout marks a continuation of bullish momentum, aligning with a fractal pattern observed in Q1 2024.
Bitcoin Puell Multiple nears breakout, indicating a potential 90% price rally, based on mining profitability and historical trends.
The post Bitcoin’s Puell Multiple hints at a potential 90% price rally appeared first on Crypto Briefing.
Ripple CTO has addressed the stagnant XRP price action despite Bitcoin price hitting new ATH while this article also discusses ETFSwap’s (ETFS) potential.
Bitcoin Cash price rallied alongside Bitcoin (BTC) in recent weeks, rising from lows of $321 earlier this month to hit $488 across exchanges. The level is the highest for BCH price since early June, when the altcoin fell below $500.
Bitcoin (BTC) price hit a new record on Nov. 10 by briefly crossing the $80,000 mark, data from CryptoSlate shows. Bitcoin’s all-time high price comes at the heels of Donald Trump winning the U.
Recent action has seen Bitcoin price retest the $67,000 price level. Particularly, the Bitcoin price declined by about 8. 9% in seven days from $73,464 on October 29 to $66,895 on November 4, as many short-term traders exited their positions.
The Bitcoin price has posted five consecutive red daily candles since it stopped just short of its all-time high at $73,620 last Tuesday. As a result, the BTC price has fallen by around 7%. This decline is evident on the weekly chart, which shows a major bearish weekly candle – a gravestone doji.
MARA says the Texas wind farm has a capacity of 240 megawatts of interconnection and 114 megawatts of nameplate wind. The Bitcoin mining company will leverage the site to cut its Bitcoin mining costs.
Всего за два дня штаты Флорида, Айова и Мэриленд представили новые законопроекты об интеграции BTC в госфинансы США. Если их примут, штаты смогут инвестировать в биткоин, принимать его в качестве платежей, а также создать стратегические резервы в крипте.
BTC fell below $95k as sellers intensified pressure. As well as the sentiment, key events to watch out for this week include tariffs news, Fed chair Jerome Powells testimony and CPI data release.
По словам аналитиков, это станет катализатором для привлечения новых инвесторов в страну. Вчера, 6 февраля президент Чехии Петр Павел подписал закон, который освобождает bitcoin-холдеров от налога на прирост капитала, если актив находится в собственности более трех лет.
Законопроект о резерве биткоинов только что прошел голосование в Палате представителей и теперь направляется в Сенат. Если закон примут, Юта станет первым штатом США, который хранит часть своих финансов в BTC.
Oklahoma joins Texas, Pennsylvania, Ohio, New Hampshire and North Dakota in having Bitcoin reserve proposals. State savings accounts and pension funds will have the nod to invest in BTC if the bill passes.
Genius Group has announced a $33 million rights offering. The company will use net proceeds from the sale to buy Bitcoin. Genius Group holds $35 million in BTC and could see holdings rise to $86 million with plans for additional $20 million loan.
