In November 2018, almost at the very beginning of its existence, Bitcoin Satoshi Vision (or BSV) impressed everyone with a rapid growth against the 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 9th position among digital currencies measured by market capitalization with a value of around $1.5 billion and a price, which is much lower than at 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.
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. Currently their team besides scalability keeps sticking to other major components of the original idea of BCH: to provide a high level of security, low transaction fees and convenience for miners and institutional investors.
|Project name||Bitcoin SV|
|Curr. Supply / Total Supply||17,854,986 BSV / 21,000,000 BSV|
|ROI since launch||-2.87%|
|Launch date||November 15th, 2018|
Bitcoin SV (BSV) Price History Analysis
In November 2018, the BSV cryptocurrency value was $88. In just a couple of days, it doubled, and a week later reached $240. The sharp jerk was caused by two factors. Firstly, already in the first days of trading, top exchanges began to actively accept the coin simply because the project is related to Bitcoin. Secondly, due to the same connection with BTC, investors rushed to buy a new asset.
By the end of the month, the price had fallen sharply to $37. Many users could not withdraw BSV from the Poloniex exchange, and trading operations were carried out with technical failures. Later, the site management eliminated the problem, but no one voiced their reasons.
The second phase of growth occurred at the beginning of December. The price of the coin soared to $100, and capitalization approached $2 billion. There is no data on market capitalization before. For almost a month, the rate was adjusted. However, by the end of the year, it took off again. The price did not reach the November maximum. For several days it stayed at the level of $110-120.
Bitcoin SV Failure: Mass Delisting
The first platform which decided to get rid of altcoin was the Binance exchange. One of its leaders, Changpen Zhao, sharply criticized Craig Wright for speculating on the name Satoshi Nakamoto. He also called the cryptocurrency “toxic.” Most users of the exchange supported the decision of the administration. The official delisting was scheduled for April 22.
Another top exchange, Kraken, conducted a survey among users about whether they consider BSV an unnecessary asset. More than 70% of respondents answered “Yes”, so on May 1, cryptocurrency disappeared from this platform as well.
ShapeShift announced delisting. In addition, well-known figures in the cryptocurrency market: Anthony Pompliano, Jimmy Song, Vitalik Buterin and many others, “call to block Bitcoin SV”. On Twitter, a new tag even appeared, #DelistBSV.
All events were reflected in the price of cryptocurrency as follows:
Bitcoin SV Technical Analysis
Well, there is not actually any technical analysis expertise of Bitcoin SV cryptocurrency. However, here is the aggregate rating for BSV from several traders & analysts on TradingView.
Bitcoin SV (BSV) Price Predictions for 2020, 2022, and 2025
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.
#1. WalletInvestor Price Prediction for 2020, 2021 and 2025
According to WalletInvestor, Bitcoin SV is an awesome long-term investment. BSV coin must go up to $190 in one year. In 2021, the price can drop to $175. Moreover, in 2025, the coin price will reach $682.904.
#2. DigitalCoinPrice Bullish Price Prediction for 2020, 2025
Bitcoin SV (BSV) price will increase according to the predicted data in the future. In 2020, the rate will not change significantly. 1 BSV will be equal to $139.25. By 2025, the price will grow gradually to $347.27.
#3. TradingBeasts Price Forecast for 2020, 2022
According to the source, this year, Bitcoin SV rate will slightly increase up to $126.3. In 2022, the price will reach $200 point.
#4. Vitalik Buterin is totally against BSV
#5. WhalePanda agrees with Vitalik:
#6. Charlie Lee, Litecoin creator, about BSV:
#7. Roger Ver Opinion
#8. 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.
Buy BSV at the Best Rate
Disclaimer: This article should not be considered as offering trading recommendations. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor should research multiple viewpoints and be familiar with all local regulations before committing to an investment.