Update, BSV delisting news, 18.04.2019:
– Binance delisted BSV
– OKEx keeps BSV listed
– Kraken made a vote about BSV delisting. The users voted for delisting BSV.
In November 2018, almost in the very beginning of its existence, Bitcoin Satoshi Vision (or BSV) impressed everyone with a rapid growth against tendency on the background of all cryptocurrency market.
The crypto news was lighting up its increase in price and market capitalization growth, which quickly gained the 7th place among all other coins.
As of today, the altcoin is on the twelfth position among digital currencies measured by market capitalization with a value of around $1.14 billion and a price, which is much lower than in the beginning. This turned out to be a great disappointment for investors.
However, It doesn’t necessarily mean they are not going to gain their profit later. Maybe not in the short-term, but in the long-run BSV has a high potential for the prominent growth.
Table of Contents
What is Bitcoin SV?
Bitcoin SV (BSV) is a new altcoin that came as a result of a hard fork of the Bitcoin Cash blockchain on November 15th 2019. The other new altcoin that appeared as a result of the split is BCH ABC or original Bitcoin Cash. While BSV was initially presented as “the new Bitcoin”, and Craig S Wright was claiming to be the real Satoshi Nakamoto, BCH ABC stood for traditional BCH with the project’s former leader Roger Ver.
The split was caused by the dissent in the BCH community to the planned updates for codebase published by lead developer Amaury Sechet, who has recently quit Bitcoin Unlimited.
Сraig Wright, who currently leads BSV community believed the announced upgrade would not be enough toward one of the most important Bitcoin Cash’s challenges – scalability.
BSV Price History Analysis
Bitcoin SV had a rapid start and gained its maximum price of $181.69 in the very first month of its existence. The situation has changed really quickly and in a few days, it dropped to its historic minimum of $39.17.
After that in the first half of December, it was highly volatile, showing growing and decreasing trends. The minimum price in those days was $68 and the highest – $122. After December 21 the trend turned to be stably decreasing. In the past 1.5 months (February and March) the price was not fluctuating much and was always around $66 per BSV.
The current market dynamics gives the impression that investors’ interest in Bitcoin SV has faded away, which may not be the case in the future. If BSV proves to be a currency that truly delivers value, it will stay within the “survivors” team. Analysts tend to predict substantial improvement in the future.
Bitcoin SV (BSV) Price Prediction for 2019 and Further
There were a lot of а talks around BSV since when everyone heard about the split. Ones were quite skeptical about this altcoin’s future, predicting it was going to have a fate of the majority of bitcoin forks, which ended up becoming worthless.
The worries were caused by little community support, only by two entities nChain and Coingeek. Besides, they have been mining at a loss. So nobody could be sure if BSV manages to attract a solid user base and gain a degree of adoption as a digital currency. Therefore risk-averse investors would classify this coin as a high-risk investment.
Despite those concerns, in reality, BSV had great success in the very beginning: 7th place by the market capitalization and being in top 10 crypto coins is a good start. Comparing to the bright start the situation now does not seem to be so optimistic. In the past 1.5 months, the price never grew higher than $75.
Bitcoin SV Roadmap for 2019-2021
On the other hand, it’s only been 4 months since it is existing, and their team might come up with the necessary improvements and have their second breakthrough.
Craig Wright shared his vision and plans for Bitcoin SV, here are some key points:
- Increase block size to 1.0 TB (!)
According to this ambitious goal, nChain partnered with Teranode project to work on BSV scalability. It is said that Bitcoin SV blockchain will handle 6.5 million transactions a second in the future.
- Bitcoin SV as a backbone for the global financial world
According to Craig Wright their goal is to gain the speed of transaction processing that would overtake the existing centralized systems such as Visa, Mastercard, and Paypal. Even though they are not performing as good as they were in the very start, by achieving those goals they can get all chances to provide sustainable growth on the market, which might also be driven by the potential interest from large institutional investors.
Such an impressive success at the start was mostly based on Craig Wright’s ambitious projections. The leader claimed to beat BTC in the future, which could be found as a probable outcome, especially at that time when BTC dropped and pulled all the market down. His vision on Bitcoin SV sounded really promising, and if they succeed to realize them, then BSV might become one of the main cryptocurrencies that have all the resources to satisfy all needs of the business world.
Those visions are represented on their Roadmap as four fundamental pillars: Stability, Security, Instant transactions and Scalability. This, not something that can be implemented in one day. Anyway, they might turn it into a real opportunity for taking a leading position.
First 128 MB blocks
Speaking about scalability, a few days ago their team announced on their site that a new milestone was already achieved recently on the Bitcoin SV Scaling Test Network with continuous 128MB blocks over 36 hours. 246 blocks were produced during this period, and each one was 128MB large.
The blocks contained 89 million transactions with an average size of 354 bytes each. This equates to 700 direct cash transactions per second over the entire period. That was a remarkable achievement that demonstrated that Bitcoin, as initially designed by Satoshi Nakamoto in 2009, can scale to meet the needs of global use.
Expert BSV Price Predictions
If you have a look at analysts’ Bitcoin SV price predictions now, you will come up with a conclusion that they are positively thinking of BSV performance in the long-run and evaluate the coin as high investment potential.
|Reference||Late 2019 (December)||Long-Term (2-5 years)||Curr. Trend|
|beincrypto.com||$9.5 – 16.5||If succeed, could be over $4,000||Bullish|
|digitalcoinprice.com||$106.8||$141.28 – $350.76||Bullish|
Finally, here’s what some well-known crypto influencers think:
Vitalik Buterin is totally against BSV:
Charlie Lee, Litecoin creator:
Roger Ver, despite his connection with BCH, stands for free-market principles:
CobraBitcoin, Bitcointalk and Bitcoin.org founder:
Final Thoughts on BSV Future Price
Despite the rejection of BSV from numerous BTC fans, the ideas underlying the development plan of Bitcoin SV are interesting for business and global adoption of cryptocurrency. Therefore, in this article, we won’t give you any BSV price prediction, too much politics, and uncertainty.
Do your own research, guys! 🕵