{"id":176467,"date":"2023-10-18T14:39:01","date_gmt":"2023-10-18T09:09:01","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=176467"},"modified":"2023-10-18T14:39:01","modified_gmt":"2023-10-18T09:09:01","slug":"bitcoin-sv-up-22-a-look-at-the-factors-behind-the-surge-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoin-sv-up-22-a-look-at-the-factors-behind-the-surge-crypto-news\/","title":{"rendered":"Bitcoin SV Up 22% – A Look At The Factors Behind The Surge – Crypto News"},"content":{"rendered":"

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Despite seeing a notable increase of 15.2% in value yesterday, the current price of Bitcoin SV remains steady at a little over $39 compared to the previous day.<\/p>\n

The current market situation involves a struggle with the immediate dynamic resistance level, leading to a state of uneasiness among traders.<\/p>\n

Bitcoin SV, a Bitcoin fork, is now the most profitable cryptocurrency out of the top 100 by market capitalization.<\/a><\/p>\n

The value of the world\u2019s cryptocurrency market increased to $1.09 trillion<\/a> at the time of writing, a 1.4% gain in a day. On Tuesday, ETH increased by about 0.1% to $1,585, while BTC was up 2.6% at $28,466.60.<\/p>\n

SEC Influence On Crypto Rally And BSV Price Spike<\/strong><\/h2>\n

The recent rally in cryptocurrency prices was primarily driven by optimism about the Securities and Exchange Commission (SEC) potentially approving a Bitcoin ETF. This sentiment was strengthened when the SEC chose not to appeal the Grayscale lawsuit.<\/p>\n

However, there was a spike in BSV prices due to a false report from CoinTelegraph claiming that the SEC was anticipating the iShares Bitcoin Trust, pushing Bitcoin to nearly $30,000 before it quickly dropped.<\/p>\n

At the time of writing, BSV occupies the No. 48 spot and was trading at $39.40, up 22%<\/a> in the last seven days, data form crypto market tracker Coingecko shows.<\/p>\n

The RSI for BSV is 67.58, the same as it was yesterday. This RSI level is slowly approaching overbought zone, which could indicate that a little correction or consolidation in the price of BSV is imminent.<\/p>\n<\/p>\n

BSV market cap currently at $757 million. Chart: TradingView.com<\/a><\/pre>\n
Bitcoin SV<\/a> is displaying positive indicators in terms of trading volume and market capitalization. Its market cap has risen by 1.22% to reach $757 million, and its 24-hour trading volume has surged by a significant 83% to $238 million.<\/p>\n
This increased trading activity suggests growing trader interest and the potential for BSV\u2019s price to continue moving upward.<\/p>\n
When market confidence persisted, the price of Bitcoin Cash also surged. The robust performance of American stocks served as an example of the increase. The S&P 500 and Dow Jones both experienced gains of more than 1%, but the Nasdaq 100 index saw a leap of more than 1.10%. Cryptocurrencies have historically performed well on rising stock prices.<\/p>\n
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Bitcoin SV Price At Resistance Zone: Potential For An Upside Break<\/strong><\/h2>\n<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
Meanwhile, the current price of BSV is encountering a horizontal resistance zone ranging from $38.5\u00a0to $40.6. This resistance zone is also in alignment with the Fibonacci 0.5 level, at $39.75.<\/p>\n
The possibility of a successful breach of this resistance level may indicate a sustained higher trajectory for Bitcoin SV.<\/p>\n
Concurrently, there exists a proximate support region ranging from $33.85 to $36.10, which aligns with the Fibonacci 0.618 level of $35.89 and the 20-day Exponential Moving Average (EMA) of $34.79.<\/p>\n
In the event that the BSV price is unable to maintain its position above the designated support zone, there is a possibility of an impending negative trend.<\/p>\n
(This site\u2019s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).<\/em><\/p>\n
Featured image from CoinPayments Blog<\/em><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
Despite seeing a notable increase of 15.2% in value yesterday, the current price of Bitcoin SV remains steady at a little over $39 compared to the previous day. The current market situation involves a struggle with the immediate dynamic resistance level, leading to a state of uneasiness among traders. Bitcoin SV, a Bitcoin fork, is […]<\/p>\n","protected":false},"author":2,"featured_media":176468,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-176467","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/176467","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=176467"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/176467\/revisions"}],"predecessor-version":[{"id":176470,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/176467\/revisions\/176470"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/176468"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=176467"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=176467"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=176467"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}