As the second-largest bitcoin hard fork, Bitcoin SV has maintained its stay as a top 100 asset in the market. However, the cryptocurrency has exhibited various levels of volatility at different times.
However, not many understand the fundamentals behind BSV. Thus, in this article, you will understand what led to the split from Bitcoin, if the project still maintains the Satoshi basics and more. Beyond the fundamentals, Coin Edition touches on the price action and predictions from 2024 to 2030. Read on.
What is Bitcoin SV (BSV)?
Bitcoin SV was introduced in 2018 as a hard fork of Bitcoin. Despite splitting from Bitcoin, Bitcoin SV maintained the fundamentals Satoshi Nakamoto wrote in the whitepaper, and continued to act as an electronic peer-to-peer system.
However, the project took its utility further by supporting advanced blockchain applications while enabling scalability on the network. Therefore, use cases on the Bitcoin SV network include on-chain scaling, smart contracts development, and offering low transaction fees for payments.
Bitcoin SV is not limited to consumers, as the project opens its network to enterprises and some governments. BSV’s network has the potential to handle 1,000 transactions per second. This is because it can mine up to 2GB of block data over Bitcoin which stands at 1MB.
BSV Current Market Status
The price of BSV as of this writing, was $94.26. This value represents a 7.38% increase in the last 24 hours. Like the price, the trading volume of the cryptocurrency has also. At press time, BSV’s volume was over $135 million within the same period its price jumped.
BSV has a total supply of 19.67 million tokens, and this number is already in circulation. In terms of the market cap, data showed that it was $1.85 billion.
BSV is available on different cryptocurrency exchanges including OKX, Bitget, Binance, and Bybit. But the cryptocurrency is also popular in Asia. As such, you can also find trading pairs on Upbit, HTX, and MEXC.
Bitcoin SV (BSV) Price Analysis
On a Year-To-Date (YTD) basis, BSV’s price has decreased by 9.28%. But the token has made up for that decline by registering a 90-day and 24-hour increase. Irrespective of BSV’s recent performance, it is important to evaluate the price from a technical perspective
Hence, this section will focus on the short-term outlook and also assess BSV’s price prediction from 2024 to 2030.
Bitcoin SV (BSV) Price Analysis – Bollinger Bands
The Bollinger Bands (BB) gives an idea of the volatility around an asset. If the bands widen, then volatility could be said to be high. If the BB contracts, then there is low volatility.
As of this writing, the BB displayed on the 4-hour BSV/USD chart expanded. This means the price of the cryptocurrency could swing a lot higher. In the case of selling pressure, it could drop much lower.
From the signals shown, a highly bullish scenario could drive BSV toward $104. However, the price could also fluctuate to $82.41 if traders book profits in droves.
Bitcoin SV (BSV) Price Analysis – Relative Strength Index (RSI)
According to the 4-hour analysis, bulls were responsible for driving the price higher. This was evident from the Relative Strength Index (RSI). As of this writing, the RSI trended upwards, indicating a solid buying momentum.
If the reading continues to increase, then the price of BSV could surpass $102.01 in the short term. However, if the cryptocurrency gets overbought and the RSI rises above 70.00, then a decline could be next.
Bitcoin SV (BSV) Price Analysis – Moving Average Convergence Divergence
At press time, the Moving Average Convergence Divergence (MACD) was positive. Typically, this indicates increasing upward momentum. However, the positions of the 12 EMA (blue) and 26 EMA (orange) suggested that the bullish thesis was not yet validated.
From the chart shown below, the 12 and 26 EMAs were in negative territory, indicating that buyers and sellers were indecisive. If the 12 EMA climbs to the green area, then the bullish bias could be confirmed. If not, BSV’s price might turn downward within a short period.
Bitcoin SV (BSV) Price Prediction 2024
BSV’s price could end 2024 in an extremely bullish state, according to signals from the daily chart. According to Coin Edition’s analysis, there was an inverse Head and Shoulder (H&S) pattern formed.
This formation ensured that BSV reversed its downtrend, and the price broke out, typically indicating favorable conditions for a long position. However, the Awesome Oscillator (AO) was negative, suggesting an increasing downward momentum.
Despite the potential of a downtrend, the Fibonacci extension showed that BSV’s price might extend toward $140 in the short to mid-term.
Besides the near-term prediction, BSV could rise higher with technical analysis suggesting an increase to $168 by the end of 2024.
Bitcoin SV (BSV) Price Prediction – Resistance and Support Levels
Based on the 4-hour analysis, bulls spotted support at $85.83 on April 2. This support was instrumental to the hike BSV experienced moments later. However, there was resistance at $95.13 which bulls found easy to clear. But the overhead resistance at $104.14 could be another stumbling block for the uptrend.
If successfully breached, BSV’s price might retest $112.94. On the other hand, a rejection at this point could force the price back to $87.45.
Bitcoin SV (BSV) Price Prediction 2025
Although BSV and BTC have not always had a strong correlation, the prices may follow a similar direction in 2025. Therefore, if Bitcoin’s price predictions settle above $100,000 in 2025, then BSV might hit $218 in the same year.
Bitcoin SV (BSV) Price Prediction 2026
BSV’s price might experience an increase in 2026 but might be minute. This is because attention might have shifted to other new and shiny altcoins which BSV does not seem to be a part of. Thus, the price prediction for 2026 is $234.
Bitcoin SV (BSV) Price Prediction 2027
By 2027, the price of BSV is expected to turn down from the previous peaks as liquidity in the market could be scarce. A dearth of liquidity could cause prices to collapse. Hence, BSV’s price could be $147.89 in 2027.
Bitcoin SV (BSV) Price Prediction 2028
2028 would be the 5th Bitcoin halving. Historically, the halving years have brought impressive performances for BTC and its hard forks. Hence, the price of BSV might climb to $265 in 2028.
Bitcoin SV (BSV) Price Prediction 2029
In 2029, BSV might attempt to hit its ATH but the effort might be unsuccessful and capital rotation from the cryptocurrency could be intense. Therefore, the 2029 price prediction could be $308.
Bitcoin SV (BSV) Price Prediction 2030
By 2030, many nations might have adopted cryptocurrency, meaning that there could be more users than in the current season. Should this be the case, trillions of dollars could flow into the market and positively affect prices like BSV. In 2023, the price of BSV could be $374.
Bitcoin SV (BSV) Price Prediction 2040
2040 might be the year BSV finally surpasses its all-time high. By then, the Bitcoin SV community could have grown to impressive heights. As such, the price prediction could be $496.32.
| Minimum Price | Average Price | Maximum Price |
| $384.51 | $418.26 | $496.32 |
Bitcoin SV (BSV) Price Prediction 2050
The price of BSV could hit the $500 region in 2050. However, the price could experience a drawdown during the year which could take it back to $409.61. But at the maximum level, the price of BSV could hit $525.30 in 2050.
| Minimum Price | Average Price | Maximum Price |
| $409.61 | $473.19 | $525.30 |
Conclusion
Finally, it is important to note that Bitcoin SV is not the same as Bitcoin. While they both follow the fundamentals laid down by Satoshi Nakamoto, Bitcoin SV allows the development of smart contract applications and acts as a scaling solution.
For BSV, its price has been relatively impressive for the past year. However, the price prediction for the next few years might not take it back to its previous all-time high.
Frequently Asked Questions (FAQ) – Bitcoin SV (BSV)
Bitcoin SV (BSV) is a cryptocurrency that originated as a hard fork of Bitcoin in 2018. It maintains the original fundamentals outlined by Satoshi Nakamoto’s Bitcoin whitepaper and functions as an electronic peer-to-peer system.
Bitcoin SV expands on Bitcoin’s capabilities by supporting advanced blockchain applications, enabling scalability through on-chain scaling, and facilitating smart contract development with low transaction fees.
Bitcoin SV’s use cases include on-chain scaling for high transaction throughput, development of smart contracts, and offering cost-effective solutions for peer-to-peer payments
As of the latest data, Bitcoin SV (BSV) is priced at $94.26 with a market cap of $1.85 billion. It has a total supply of 19.67 million tokens, all of which are in circulation. BSV is available on various cryptocurrency exchanges including OKX, Bitget, Binance, Bybit, Upbit, HTX, and MEXC.
Bitcoin SV’s price has increased by 7.38% in the last 24 hours, showcasing notable volatility. The trading volume within the same period has surpassed $135 million, reflecting active market participation.
