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Bitcoin SV Down 22% As Court Rules Out Against Craig Wright BSV fell hard after the UK courts declared Craig Wright not to be Satoshi Nakamoto, but the AMEX:BSV faithful remain defiant. Bitcoin SV ( AMEX:BSV ) has plummeted 13.87% over the last day after a UK court ruled out Craig Wright not being the pseudonymous Bitcoin creator Satoshi Nakamoto and not writing the leading cryptocurrency’s whitepaper. Coupled with a broader downturn in the cryptocurrency market, it's been a rough week for the Bitcoin variant. Also known as Bitcoin Satoshi’s Vision, AMEX:BSV was trading around $113 on Thursday as the court case between Wright and the Crypto Patent Alliance (COPA) concluded. BSV saw its largest drop in months after U.K. Judge James Mellor ruled that Wright is not the pseudonymous Bitcoin inventor Satoshi Nakamoto. Following the ruling, AMEX:BSV has fallen below $89 as of the time of writing, marking a 22% drop since the decision was announced. Launched in November 2018, Bitcoin SV ( AMEX:BSV ) poised to follow Satoshi Nakamoto's original vision for Bitcoin as a peer-to-peer electronic cash system. It resulted from a hard fork known colloquially as “The Hashwar” from Bitcoin Cash ( SET:BCH ), itself a hard fork from Bitcoin ( CRYPTOCAP:BTC ) over a dispute about block sizes and scalability. AMEX:BSV ’s price dump came as a shock, because it was only in December that AMEX:BSV was trading at similar levels, so the drop may also be a correction after recent gains. The timing of the plunge alongside the court ruling certainly suggests that it played a factor, however.
by DEXWireNews
BSV ANALYSIS There has been a sharp upward movement and this movement has ended from where we entered start on the chart and the correction has started from this point. It seems that our movement is a diametric. We have identified the first serious supply on the chart and it is expected that wave d will end in this range and then we will enter wave e. We specified the targets on the chart. We specified the invalidation level on the chart. Closing 1 daily candle above this level will violate the analysis For risk management, please don't forget stop loss and capital management When we reach the first target, save some profit and then change the stop to entry Comment if you have any questions Thank You
by behdark
3
BSV Delisting Spurs Controversy and a Surprising BSV Price SurgeCoinbase Global Inc. has officially cut ties with Bitcoin SV ( AMEX:BSV ), announcing the immediate deprecation of support for the controversial cryptocurrency. The decision comes after months of warnings to users, urging them to withdraw their AMEX:BSV holdings. This move adds Coinbase to the growing list of cryptocurrency exchanges delisting underperforming or controversial tokens, a trend that has significantly impacted the industry in recent years. The Coinbase-BSV Saga: Coinbase's decision to sever its relationship with AMEX:BSV dates back to 2021 when the exchange delisted the token due to multiple protocol attacks and controversies surrounding Craig Wright, one of the self-proclaimed inventors of Bitcoin. However, the recent move is more than just a delisting; it's a complete withdrawal of support, leaving Coinbase users unable to access, withdraw, or deposit AMEX:BSV on the platform. Liquidation Concerns and Market Impact: The announcement has raised concerns among Coinbase users who failed to heed the earlier warnings. Any AMEX:BSV holdings that remained on the exchange after the cutoff date have been liquidated and converted to the market equivalent of another supported cryptocurrency. While users will receive the value of the new crypto, minus transaction costs, the unexpected conversion has sparked worries about potential taxation implications for those caught off guard. Delisting Trend in the Crypto Industry: The decision to delist struggling tokens is becoming a prominent trend in the cryptocurrency industry. Similar instances, such as the delisting of Ripple-associated coin XRP over three years ago, occurred due to regulatory hurdles against the coin. In XRP's case, the United States Securities and Exchange Commission (SEC) brought an enforcement action, labeling XRP as an unregistered security. This move triggered a domino effect as several major exchanges, including Coinbase and Binance, decided to remove XRP from their platforms. AMEX:BSV 's Resilience Amidst Delisting: Despite the delisting news, Bitcoin SV has shown unexpected resilience in the market, experiencing a 2.7% surge at the time of writing, reaching $72.74. This surprising price movement suggests that the delisting may not have a uniformly negative impact on AMEX:BSV 's community and market sentiment. Impact on Coinbase's User Base: The delisting of AMEX:BSV raises questions about the potential impact on Coinbase's user base. Some users may choose to migrate to other platforms where AMEX:BSV is still supported, potentially affecting Coinbase's market share. This move prompts a broader discussion about the delicate balance that cryptocurrency exchanges must maintain between ensuring user safety and navigating the volatile landscape of digital assets. Conclusion: Coinbase's bold decision to officially pull support for Bitcoin SV adds another chapter to the ongoing narrative of exchanges delisting underperforming or controversial tokens. The unexpected resilience of BSV's price amidst the delisting raises intriguing questions about the dynamics of community sentiment and market reactions.
Long
by DEXWireNews
Price Correction• Recently, BSV has formed a triangular pattern and successfully breached the upper edge. • Following a pullback, it has resumed growth, reaching a major resistance area, which coincides with the supply zone. • At present, we anticipate a price decline in the form of a correction, potentially extending to the bottom of the ascending trend line. • Subsequently, with the emergence of bullish patterns, we expect the primary trend to recommence. • The $43 price level serves as a significant major support. Should the price close below this threshold, the trend would likely turn bearish on a weekly timeframe. (All analyses will be updated) This analysis is informational, not financial advice.
by MonoCoinSignal
BSV Another Wave is ready. And awe Try to ride it**Fundamentals of Bitcoin SV (BSV)** Bitcoin SV (BSV) is a cryptocurrency that emerged from a hard fork of the Bitcoin Cash (BCH) blockchain in 2018. It is designed to adhere to the original vision of Bitcoin, as outlined in Satoshi Nakamoto's white paper, emphasizing scalability, stability, and data storage capabilities. **Key Features:** * **Scalability:** BSV utilizes a larger block size limit, allowing for more transactions to be processed per block, enhancing transaction throughput. * **Stability:** BSV maintains a relatively low transaction fees, ensuring affordability and stability for everyday transactions. * **Data Storage:** BSV's large block sizes can store more data, enabling applications that require significant data storage, such as e-commerce, supply chain management, and social media platforms. **Recent News:** * **Bitcoin SV Infrastructure Project:** BSV Infrastructure Foundation announced a project to develop a suite of decentralized applications and tools that leverage BSV's scalability and data storage capabilities. * **Blockchain-Powered Healthcare Solutions:** A healthcare provider in Singapore adopted BSV to develop a patient data management system, aiming to enhance data security and efficiency. * **BSV Adoption in Africa:** Businesses in Africa are exploring BSV for its potential to facilitate cross-border payments and support financial inclusion. **Disclaimer:** Investing in cryptocurrencies carries inherent risks. Cryptocurrency prices are volatile and subject to market fluctuations. Investors should conduct thorough research and carefully evaluate their risk tolerance before investing in any cryptocurrency, including BSV.
Long
by MoonTradingForecast