Bitcoin SV (BSV) Ushers In 2024 With A 110% Bang

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin SV	BSVUSD	Crypto	1,404,171,222	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin SV

BSVUSD

Crypto

1,404,171,222

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-0.429351	-0.60%	71.04	71.12	71.19

Price Change

Price Change %

Current Price

Bid Price

Offer

-0.429351

-0.60%

71.04

71.12

71.19

High Price	Low Price	Open Price	Prev. Close	52 Week Range
72.13	70.12	71.47	71.47	31.95 - 1,064.91

High Price

Low Price

Open Price

Prev. Close

52 Week Range

72.13

70.12

71.47

31.95 - 1,064.91

Exchange	Last Trade	Size	Trade Price	Currency
DGFX	11:10:27	0.310800	71.04	USD

Exchange

Last Trade

Size

Trade Price

Currency

DGFX

11:10:27

0.310800

71.04

USD

Price x Volume	Volume	Base Symbol	Related Pairs
81,397.39	1,149.93	BSV	BSVEUR	BSVGBP	BSVBTC

Price x Volume

Volume

Base Symbol

Related Pairs

81,397.39

1,149.93

Bitcoin SV (BSV) Ushers In 2024 With A 110% Bang – Details

02/01/2024 8:31am

NEWSBTC

The hard fork token from Bitcoin, known as Bitcoin SV, continues to rise and has crossed $100 for the first time since February 2022. The price spike, which is noteworthy for having increased by almost 110% in just one week, is mostly attributable to increased trading activity and interest in the South Korean market. Upbit Spurs Bitcoin SV Surge: Insights Upbit, the biggest cryptocurrency exchange in South Korea, has been the center of this increased interest in BSV. On New Year’s Day, Upbit registered a significant $275 million in BSV trading activity. With a total trading volume of $753.5 million, this trading frenzy has driven Bitcoin SV’s market cap to $1.7 billion. Related Reading: LUNC Plunges 14% As SEC Scores Knockdown Blow Vs. Terraform Labs The trend is not exclusive to Upbit, as the trading volume of the token on OKX has also significantly increased, surpassing $47.5 million. In the past 24 hours, BSV’s trading activity has surged by more than 300%. By trading volume, Bithumb, a significant regional exchange, ranks among the top three as well. Notably, throughout the past 24 hours, Upbit and Bithumb have accounted for around 70% of BSV’s total trading volume. As of this writing, Coingecko statistics indicates that BSV was trading at $102.87, up 7.3% and 109.1% over the previous day and week, respectively. BSV seven-day price action. Source: Coingecko Positive indicators including a bullish Relative Strength Index and a Moving Average Convergence Divergence, together with a trading volume rise of more than 40%, back the surge. The RSI is moving north while in the overbought area, suggesting a bullish future trajectory for the price of BSV. While the price of Bitcoin SV appears to be accelerating, the MACD is likewise in the green zone, indicating purchasing pressure on the cryptocurrency. The Bitcoin fork stands out as one of the top cryptocurrency gainers, and although encountering resistance around the $115 level, BSV’s performance follows a wider pattern of erratic moves in the crypto market. BSV market cap currently at $1.9 billion. Chart: TradingView.com Bitcoin SV’s Rise Amid Regulatory Moves In an effort to transform Bitcoin SV into an enterprise-level blockchain and peer-to-peer payment system, proponents highlight the platform’s scalability, reliability, and security. The recent surge in Bitcoin and the likelihood of the SEC approving a spot ETF are driving interest in BSV. Related Reading: Can BSV Hold Its New 2023 Peak? Analysts Watch As Trading Volume Explodes Meanwhile, to counteract illicit behavior, South Korea recently established a regulatory framework for cryptocurrencies. In a significant move toward regulation, the nation mandated on December 28 that public servants register their cryptocurrency holdings. Controlled domains offer security, which may have drawn investors to these developments. Although there remains resistance in the vicinity of $115, BSV has outperformed the overall market and is now a top gainer. Depending on how investors respond to its distinct value proposition and how the larger crypto scene develops, the market’s trend may continue or slow down. Watch BSV closely as it forges ahead in the dynamic digital asset market. Featured image from Shutterstock

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