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Bitcoin SV, BSV
$3 256 745 648
24 Hour Volume
$852 183 408
18 631 551
Bitcoin SV / US Dollar Chart, BSV/USD ()
About Bitcoin SV
Bitcoin SV is a cryptocurrency that emerged in November 2018 as a result of the hard fork of Bitcoin Cash. In the first weeks of trading, it had a high price. Then the Bitcoin SV price in US dollars began to decline.
Bitcoin SV features
The divergence was led by Craig Wright, who often claims to be Satoshi Nakamoto. SV stands for Satoshi Vision, which clearly hints at the ideology of Satoshi Nakamoto’s original vision. The developers believe that it was they who managed to create an altcoin as close as possible to original Bitcoin. The project is ambiguous. However, at first, Bitcoin SV managed to take a place in the top 10.
Technically, Bitcoin SV is Bitcoin Cash with an increased limit on the block size in a chain. The cryptocurrency has attracted the attention of BCH users, and the Bitcoin SV price has grown.
The main features of Bitcoin SV that impact the coin price:
- Increased block size (128 MB instead of 32);
- Scaling to process more transactions;
- Competition for hashrate.
BSV coins can be mined alone on ASICs supporting SHA-256. However, it will be more cost-effective to join the pool. It is easier for investors to buy coins on cryptocurrency exchanges. Before buying or selling, it is helpful to learn more about the Bitcoin SV price, and also note that on some exchanges the coin is assigned the BCHSV ticker.
From the moment of the hard fork to May 2019, Bitcoin SV had an inverse correlation with the price of bitcoin. Everything changed when the entire cryptocurrency market began to grow. After a general drawdown, BSV became dependent on BTC. Even attempts to get out of it in December 2019 were unsuccessful.
Risk and price forecast for Bitcoin SV
The beginning of 2020 was promising: in mid-January, the price of BSV even set a historical record — 441 USD, and capitalization exceeded $7 billion. A further crisis knocked the price down, and now it cannot get close even to the 200-dollar mark.
According to analysts, the cryptocurrency Bitcoin SV will not recover any time soon. The main reasons for this are:
- Unprofitability of mining;
- Technical deficiencies in the payment system;
- Dependence not only on Bitcoin, but also on Bitcoin Cash.
With a lack of clear prospects for the entire market, the Bitcoin SV price may even drop to 100 USD if Craig Wright decides to often remind of himself during this difficult time. The crypto community does not like it when he shocks or attacks ‘related’ cryptocurrencies. Investing in the BSV cryptocurrency in the long term is not worth it yet: only dedicated fans are holding it now.