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Bitcoin SV [BSV] Price Analysis: Coin gets bullish support

Biraajmaan Tamuly

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Bitcoin SV [BSV] Price Analysis: Coin gets bullish support
Source: Pixabay

Bitcoin SV [BSV] experienced an improvement in its price valuation as the token went up by 1.31% percent against the US dollar recently. The market capitalization was $1.77 billion and the 24-hour trade volume garnered was $103 million. The token was priced at $66.66 at press time.

BitForex exchange reported the highest trade for the coin, with the exchange contributing around 9.11% of the entire trade volume. It was closely matched by the IDCM exchange, which was responsible for 8.62% of the total trade.

1-hour:

Source: Trading View

The short-term chart indicated a price recovery for the token as the coin witnessed an uptrend from $66.687 to $68.241. The resistance line for the token stabilized at $68.251.

The Parabolic SAR indicator marked a bearish trend as the lines flattened above the candlesticks.

The Chaikin Money Flow or CMF pointed towards an absence in cash in-flow as the line remained below the zero-line.

The MACD line indicated a bullish trend as the blue line hovered over the red line.

1-day:

Source: Trading View

On the long-term chart, it can be observed that the coin underwent a downtrend which plummeted the coin’s valuation from $111.9 to $68.453. The token, however, experienced an uptrend from $67.6 to $75.76. The resistance remained steady at $75.06 following the devaluation.

The Bollinger Bands indicated a stable price valuation as the markers indicated a less volatile period.

The Relative Strength Index or RSI pointed towards a neutral trend as the buying and selling pressures evened out each other.



The Fisher Transform indicated a change in trend following a bullish crossover.

Conclusion:
Overall, the short-term and long-term indicators hinted at a change in trend and gave the bulls an upper hand in terms of market power.





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Biraajmaan is an engineering graduate who is exploring the ever-changing crypto verse while traversing his passion for cryptocurrency news writing. He is a Chelsea fan and a part-time poet and does not hold any value in cryptocurrencies yet.

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Bitcoin

Bitcoin [BTC]: Debating on king coin’s transaction speed is a red herring argument, says Charlie Shrem

Akash Anand

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Bitcoin [BTC]: 'Debating about BTC's transaction speed is a red herring arugument', claims Charlie Shrem
Source: Pixabay

The debate around Bitcoin [BTC] and its effectiveness in the current financial atmosphere has been a long ensuing debate in the cryptocurrency industry. The supporters and naysayers of the world’s largest cryptocurrency have locked horns on various aspects of the coin, be it the coin’s characteristic as a store of value or the amount of time it takes to settle Bitcoin transactions.

In a recent tweet, Charlie Shrem, the Founder of Bitcoin.org and one of the most popular Bitcoin proponents, spoke about the topic, directly addressing critics who had a problem with settlement times. His tweet read:

““Transaction speeds” when debating #bitcoin vs other faux-crypto’s is red herring argument. There were plenty of fast ways to move money before bitcoin. That’s not why we’re here. We’re building a censorship resistant value network that can-never be controlled by a single party.”

Bitcoin proponents had always made it a point that the cryptocurrency was never meant for fast transactions, but rather to compete with Gold as the standard for a ‘store of value’. Even Samson Mow, the CSO at Blockstream had earlier claimed that BTC was never meant to be fast by adding:



“If you want money, it does not need to be very fancy, and a lot of the altcoin projects; I don’t wanna go into it but they are just based on gimmicks. What you really want is sound money, something which is reliable and bulletproof.”

The ‘BTC is not effective’ camp had responded voraciously many a time by stating that something aimed at changing the financial dynamic should be nothing short of fast or else there was no way it could become an effective form of value. This rebuttal for this argument was that Bitcoin’s goal was to create a cryptocurrency integrated mainstream structure and even though it was not lightning fast, the transaction speed of Bitcoin was still faster than that of current methods like Visa and MasterCard.

Charlie Shrem was also in the news recently when he stated that when Mt Gox imploded, the market created the first “token as debt”. The statement was made in connection with the massive loss of funds which occurred following the hack of the then largest cryptocurrency exchange.





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