It has not been the best 24-hour period for Bitcoin Cash SV. Although there was some positive momentum during the early hours of yesterday morning, the momentum quickly turned against this new currency. Although the losses are being recovered slowly, there is still a huge deficit waiting to be overcome. How all this will play out, is anybody’s guess at this point.
Bitcoin Cash SV Price Momentum Sours
One always has to put things into its proper perspective prior to looking at short-term fluctuations. The Bitcoin Cash SV price surged by over 65% in the past week, and even hit 90% at one point. A steep correction following that big gain is only normal, especially as this remains one of the more contested altcoins to be created in 2018. Sustaining a value of $90 or more will be the first order of business for BCHSV.
In the past 24 hours, there is a massive decline in both USD and BTC value to be noted. BCHSV Lost 13.5% in USD value and 19.5% in BTC value. A bit of an odd trend, considering how most markets started showing signs of a recovery. At the same time, one has to wonder if any cryptocurrency or asset can effectively regain lost value, as the hourly charts look anything but promising right now.
The big discussion regarding Bitcoin Cash SV comes in the form of a new feature being announced on Friday. Craig Wright has confirmed new technology for Bitcoin SV will be coming, although no one has any idea what can be expected exactly. Anything is possible where this currency is concerned, although it is evident the change will introduce some change which will help the ecosystem grow and evolve as a whole.
When it comes to making accurate Bitcoin Cash SV price prediction, any guess is as good as all others. In the case of HaShforce101, he expects the BCHSV value to rise to $350 in the coming weeks. While that is not impossible by any means, there is a good chance things could head to such a level. Sustaining that growth, on the other hand, would be virtually impossible, primarily because it would allow BCHSV to surpass BCH in value.
Despite the love or hate for BCHSV, no one will deny it causes some significant discussions on Twitter. Crypto Patrick doesn’t like Bitcoin Cash, BCHABC, or BCHV. While that is certainly a valid opinion, calling these currencies “Shitcoins” and “illiquid” is a bit of a stretch. All of these markets have ample trading volume, thus they are anything but illiquid.
— mozdca (@mozdca) November 28, 2018
Under the current market circumstances, it seems to be a matter of time until the Bitcoin Cash SV price hits $100 again. The big question is whether or not it will be rejected – again – or finally turn it into a support level. Right now, either option sis till plausible, as it is virtually impossible to make any accurate prediction whatsoever. All markets remain in a state of unease, and that situation may not necessarily change in the coming days either.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.