Today is not necessary the interesting day for most cryptocurrency markets, yet there are always peculiar developments taking place. Although the discussions between Bitcoin Cash and Bitcoin Cash SV has calmed down significantly, the latter currency is noting some strong gains in the price department. That is a promising sign for this fork of BCH, and further confirmation different views can succeed side-by-side.
Bitcoin Cash SV Price is Rising Quickly
Ever since the Bitcoin Cash network protocol upgrade last week, there has been a lot of confusion as to what the future will bring. Bitcoin Cash as people know it is still around, yet a separate currency has been created in the process. The forked version is called Bitcoin Cash SV, and still controls nearly half of the network hashrate. As such, speculators start to pay attention to this currency.
Over the past 24 hours, the Bitcoin Cash SV price has risen by 15% in both USD and BTC value. That is a very promising sign, especially when considering how all top currencies suffer from growing bearish pressure yet again. BCHSV Also generates a fair amount of trading volume, as over $169m worth of volume is nothing to sneeze at. Even so, its total market cap remains unclear on CoinmarketCap, simply because they seemingly can’t calculate the circulating supply.
When looking across social media, there is still a lot of hostility toward Bitcoin Cash, BCHSV, Roger Ver, and Craig Wright. Not entirely abnormal, as many people blame this “split” for ongoing price issues across the entire industry. Even so, the image shared by When Moon? is quite interesting regardless.
— When Moon? (@FHRITP_BTC) November 24, 2018
Those who want to look at things from a technical analysis point of view may have noticed how there is a very pattern forming on the BCHSV charts. Dacomax is not too sure whether this will result in more bearish pressure or simply displays a Bat signal for better things to come. Most peculiar, albeit it doesn’t necessarily mean anything either.
— DacoMax (@DacoMax) November 24, 2018
Unsurprisingly, there is also a rather appealing arbitrage option to explore in the Bitcoin Cash SV department. The value of BCHSV on Gate is significantly lower compared to KuCoin, which allows users to score some very easy profits. There are always many different facets to cryptocurrencies, and arbitrage trading is slowly becoming more apparent.
— Arbing Tool (@ArbingTool) November 24, 2018
Although the current Bitcoin Cash SV price momentum looks promising, it has become more than apparent no uptrends can be sustained in this industry throughout 2018. It would appear this run is no different, as the value of BCHSV has been suppressed violently over the past week or so. As such, this “breakout’ may not remain in place too long, as users will begin taking profits eventually.
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.