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Bitcoin SV Poised for a Breakout Amid Craig Wright's New LawsuitBitcoin SV ( AMEX:BSV ) has been making headlines once again, largely thanks to the latest controversial actions of its most vocal proponent, Craig Wright. The Australian scientist, who has long claimed to be Bitcoin’s pseudonymous creator, Satoshi Nakamoto, is back in the limelight with a new lawsuit. This time, Wright is suing Bitcoin Core developers, insisting that Bitcoin SV is the true embodiment of Bitcoin, and seeking a staggering £911 billion in damages. As the legal battle unfolds, the market has taken notice, with BSV’s price seeing a modest 3% rise. But what does this mean for Bitcoin SV ( AMEX:BSV )? Craig Wright Claims Bitcoin SV is the True Bitcoin Craig Wright’s lawsuit targets Bitcoin Core developers, accusing them of altering Bitcoin’s original protocol with updates like SegWit and Taproot, which he claims have strayed from the original vision set out in the Bitcoin whitepaper. Wright argues that Bitcoin SV (BSV) remains faithful to the initial protocol, positioning it as the true representation of Bitcoin. However, this lawsuit follows a series of legal losses for Wright, most notably a ruling by the UK High Court that discredited his claims of being Satoshi Nakamoto. Despite this, Wright presses on, asserting that Bitcoin SV’s undervalued market position is a result of these misrepresentations by Bitcoin Core developers, which he believes justifies his demand for £911 billion in damages. Legal Controversy: Community Reaction Wright’s lawsuit has been met with a mix of skepticism and criticism from the broader crypto community. Prominent figures, including Hodlonaut, who previously won a defamation case against Wright, have mocked the legal action. Hodlonaut sarcastically suggested that Wright might be using AI tools like ChatGPT to craft his claims, reflecting the broader sentiment that many in the community consider his actions to be legally and factually baseless. Bitcoin SV Price Reaction: Small Gain Amid Legal Drama Despite the controversy, Bitcoin SV’s price saw a 3% jump in the last 24 hours, trading around $51.23 with a 25% decrease in trading volume, signaling that while the market is reacting, the enthusiasm is not overwhelming. The price touched a daily high of $51.91, showing that some traders may be betting on a bullish outcome. However, with skepticism surrounding Wright’s claims, many are cautious about any long-term bullish sentiment based solely on the lawsuit. Open interest in BSV ( AMEX:BSV ) futures has also risen by nearly 5%, indicating growing interest in the token despite—or perhaps because of—the legal drama. Whether this interest will translate into sustained gains remains to be seen, but the increase in futures activity suggests that traders are closely watching the situation. Technical Outlook: Is BSV Poised for a Breakout? From a technical perspective, Bitcoin SV ( AMEX:BSV ) appears to be on the verge of a potential breakout. Currently trading above key moving averages, BSV’s RSI (Relative Strength Index) stands at 60, signaling that it’s neither overbought nor oversold, leaving room for further gains. Immediate resistance is pegged at $55, a critical pivot point that could determine the direction of the next major move. If BSV ( AMEX:BSV ) manages to surpass this level, it could trigger a rally toward its next target of $115—a level that aligns with the highs from March 2024. Such a move would mark a significant recovery for BSV ( AMEX:BSV ), which is still far below its all-time high of $423. On the downside, support is currently set at $48, which could offer a favorable entry point for buyers looking to capitalize on a potential bullish run. If BSV ( AMEX:BSV ) dips to this level, a consolidation phase could occur before the token regains momentum. What’s Next for BSV? While the technical outlook for BSV ( AMEX:BSV ) is promising, the token’s future largely depends on the broader adoption and community sentiment surrounding Wright’s claims. As the crypto community continues to question Wright’s legal tactics and assertions, any further developments in his lawsuit could either boost or hinder BSV’s price action. For now, traders seem cautiously optimistic, with the potential for gains in the near term. However, given the controversial nature of Craig Wright’s involvement, Bitcoin SV’s trajectory is far from guaranteed. The next major move could be heavily influenced by external factors, including the outcome of the lawsuit, market sentiment, and overall crypto market conditions. Conclusion Bitcoin SV ( AMEX:BSV ) is trading at a pivotal point, both in terms of price action and its place in the broader crypto narrative. Craig Wright’s continued legal battles have put the token in the spotlight, but whether this attention will translate into long-term gains remains uncertain. For now, the technical indicators suggest a possible breakout, but traders should proceed with caution, keeping an eye on both the charts and the unfolding legal drama. If BSV ( AMEX:BSV ) can overcome its immediate resistance levels and break free from the shadow of controversy, it may see a resurgence, but it will need more than just legal headlines to reclaim its former glory.
Long
by DEXWireNews
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 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
BSV, a little gem that could be worth a ton in the future!BSV is a hardfork of BTC worth looking at based on fundamentals and real-world use. BSV is the native cryptocurrency of Bitcoin Satoshi's Vision (BSV), sometimes called Bitcoin SV: a blockchain created in 2018 after a hard fork from the Bitcoin Cash blockchain, which in turn was a hard fork of the original Bitcoin blockchain. Bitcoin networks can only process transactions. Whereas the Bitcoin SV supports advanced applications like smart contracts and NFTs as well. Bitcoin's block size is 1MB whereas Bitcoin SV's block size is 1GB. Thus, Bitcoin SV can store more data in a block. Based on recent technicals, BSV is still at bargain levels from a couple of years ago. I have a strong feeling this will be a 4-digit coin soon when BTC becomes too overvalued that the market will seek out "valuable discounted" forks for growth. BSV will be at the frontline when that season comes. BSV registered its highest net positive volume this month -- first time since May 2021. A hint that a trend shift is about to materialize with significant price growth ahead. Spotted at 46.00 TAYOR. Safeguard funds always.
Long
by JSAL
1
BSVUSD On the MA100 (1w) for the first time in 2 years!Bitcoin SV crossed today over both the Falling Resistance of the April 12 2021 High as well as the MA100 (1w) for the first time in nearly two years. If the (1w) candle closes over it, it will be a bullish continuation signal. Trading Plan: 1. Buy if a (1w) candle closes over the MA100 (1w). Targets: 1. 100.00 (top of Channel Up and symmetrical +205.87% rise as the previous rise). Tips: 1. The MACD (1w) is on a Bullish Cross, still under 0.000 and on a huge Bullish Divergence. This clearly indicates that the market is transitioning to long term bullish. Still early as the 1week MA200 is over our target. Please like, follow and comment!!
CRYPTO:BSVUSDLong
by TradingBrokersView
BSVUSD: This move has potential but don't get excited yet.BSVUSD reached the 1W MA50 as it started the week on a strong bullish note, turning overbought on the 1D technical outlook (RSI = 81.503, MACD = 0.780, ADX = 33.231). We may not see the usual technical relief pullback that follows after overbought conditions as the 1W MACD just formed a Bullish Cross and remains under the 0.000 neutral level. This suggests that in case of a breakout, the upside potential is big. Target the R1 level (TP = 56.450), which is the strongest Resistance currently as it is where the 1W MA100 is headed to. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
CRYPTO:BSVUSDLong
by InvestingScope
1
BSVUSD: Strong buy opportunity for +50% profit.BSVUSD hit the top of the former Channel Down pattern and is rebounding. The 1D time frame has normalized its previously overbought technicals (RSI = 63.544, MACD = 3.840, ADX = 63.502) and that can give rise to a new round of buying. As you can see the Fibonacci retracement levels form solid Support and Resistance levels, with the latest one being the 0.786 level that was almost hit on the last rally. Our target is a full gap filling (TP = 67.0000). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
CRYPTO:BSVUSDLong
by InvestingScope
3
BSV Why Bitcoin SV is a useless forkForked cryptocurrencies, which emerge as a result of splitting from the original blockchain, often face an uphill battle to establish themselves as valuable and distinct entities. One of the primary concerns is that forks are perceived as redundant copies of the original blockchain, lacking the same level of innovation, utility, and market demand. This perception leads some to believe that forks will struggle to gain widespread adoption and maintain significant value. Additionally, forks often encounter difficulties in building and sustaining communities and resources. Divided communities and limited developer support can hinder the progress of forked projects, preventing them from achieving the same level of growth and ecosystem development as the original chain. These challenges can also impact liquidity and network effects, making it harder for forked cryptocurrencies to compete effectively. Furthermore, the original blockchain, from which the forked cryptocurrency originates, usually retains its dominance in terms of market capitalization, brand recognition, and developer activity. This creates a significant hurdle for forks to overcome, as they face strong competition from the established and widely adopted original chain. The success of the original chain can overshadow the forked projects, diminishing their perceived value and hindering their ability to gain traction. In my opinion BSV Satoshi's vision could easily reach $12.10. Looking forward to read your opinion about it!
Short
by TopgOptions
1
✴️ Bitcoin SV Ending Diagonal | The Intuitive SignalIs this an ending diagonal or a triangle? Bitcoin SV just hit a new All-Time Low which is a major development and also a great signal for us "bottom fishers"... You know the saying, "once you hit bottom, the only place left to go is up". My intuition recently alerted me saying something like this, in a whisper... "Hey Alan, check BSV"... Well, not really, it was more like, "Look at Decentraland and BSV" on a bland tone while at the same time pictures of the charts were coming up in my minds eye. As you can see from the chart above, BSVUSD has been crashing since April 2021 with no major bullish or reversal signals. The pattern I mention at the start is true and the ATL... Oh wait, there is more. One classic and quite accurate signal comes in the form of divergence and these work great to alert about potential reversals. First, the chart | BSVUSD Weekly RSI As you can see, the RSI bottomed November 2022 and started to go up, while BSV continued down so this is a strong divergence, coupled up with the pattern, 8-May sessions Doji, the ATL and my intuition... Low risk (tight stop-loss) vs a very, very strong potential for rewards. Thank you for reading. This is not financial advice. I love you! Namaste.
CRYPTO:BSVUSDLong
by AlanSantana
2
Bitcoin Forecast Sunny🌞 (Confidence: 0.98 )🌤️ Good news for Bitcoin investors! Based on the past hour's data, the weather in the Bitcoin world looks sunny ☀️. The cryptocurrency's price opened at 26302 and reached a high of 26387, with a low of 26254. This suggests a stable and positive trend in the market. The trading volume is also relatively high, indicating strong investor interest. 📈 Additionally, the EMA indicators (9, 21, 50, 100, and 200) are all showing an upward trend, with the EMA200 being the highest at 27729. This signals a potential long-term positive outlook for the cryptocurrency. 📉 However, it is important to note that the RSI value is low at 33, indicating that Bitcoin may be oversold. This could mean a possible price correction in the near future. The MACD value of -314 is also negative, which could indicate a bearish trend. Overall, the sunny forecast 🌤️ is based on the positive trend seen in the majority of the indicators, with the caveat that investors should keep a close eye on the RSI and MACD values for any potential changes in the market.
BINANCE:BTCUSDLong
by ChatGPT_Bitcoin_Forecaster
Bitcoin forecast Sunny🌞 (Confidence: 0.91 )🌞 Bitcoin Weather Report 🌞 The Bitcoin chart index for the past hour shows promising signs, indicating a sunny forecast for the Bitcoin world! ☀️🚀 Let's take a look at the key indicators: - Open: 27111 - High: 27216 - Low: 27033 - Volume: 27670 - Close: 27166 The Bitcoin market has experienced relatively stable trading activity within this hour, with a slight increase in the high and low values. This suggests a healthy level of interest and participation. Moving Averages: - EMA9: 27301 - EMA21: 27429 - EMA50: 27586 - EMA100: 27823 - EMA200: 28083 The exponential moving averages (EMAs) indicate an overall upward trend. The shorter-term EMAs are below the longer-term EMAs, suggesting positive momentum and potential for further growth. Relative Strength Index (RSI): 36 The RSI measures the strength and speed of price movements. Although it is slightly below the neutral 50 level, it is not indicating any extreme overbought or oversold conditions. This suggests a balanced market sentiment. Stochastic Oscillator: - Fast %K: 34 - Slow %K: 31 - Slow %D: 33 The stochastic oscillator values are relatively low but still within a reasonable range. It implies that the market is not overextended and there may be room for further upward movement. Moving Average Convergence Divergence (MACD): -168 The MACD is currently negative, indicating a bearish signal. However, it's worth noting that the MACD is a lagging indicator and should be considered in conjunction with other indicators for a comprehensive analysis. Overall, considering the positive movement in the moving averages, the balanced RSI, and the relatively stable trading activity, my confidence in a sunny weather forecast for the Bitcoin world is high! ☀️🚀 Please remember that cryptocurrency markets are highly volatile, and this analysis is based on historical data from the past hour. Market conditions can change rapidly, so it's always important to exercise caution and conduct thorough research before making any investment decisions. Happy trading! 📈💰
BINANCE:BTCUSDLong
by ChatGPT_Bitcoin_Forecaster
Bitcoin Sunny🌞 (Confidence: 1.0 )🌤️ Good news for Bitcoin investors! Based on the past hour's chart index, I predict sunny weather ☀️ in the Bitcoin world. The Open price was at 27557, and the Close price rose to 27569, indicating a bullish trend 📈. Additionally, the ema9 and ema21 are in a positive direction, and the ema50, ema100, and ema200 are all showing upward trends. This suggests a possible long-term bullish sentiment in the market. 📊 However, we need to be aware of some cautionary signs. The Relative Strength Index (RSI) is currently at 41, which indicates that there is still room for improvement. The MACD indicator is negative, showing that bearish momentum is still present in the market. Despite this, my confidence in the Bitcoin market's sunny weather is high, with a score of 1.0.
BINANCE:BTCUSDLong
by ChatGPT_Bitcoin_Forecaster
Bitcoin SV vs Bitcoin Is Preparing For A Bull-BreakWe know how the whole Bitcoin Cash is going to take over Bitcoin sage ended... We don't know who owns what, whos winning or whos losing. We support cryptocurrency, we like the concept, the idea, the innovation, the freedom it gives and also the alternative that it is. More cryptocurrencies is better for us. More Altcoins is good for us, for the end-user, those of us that live on Bitcoin/Crypto and use cryptocurrency on a daily basis since 2015. All expenses paid in crypto for many years before. We love Bitcoin. We also love Bitcoin Cash and we are so glad we have more than one option. We also love Litecoin, the Merge, Cardano and all the rest. We see Bitcoin SV, we lost track of the whole game but we also like it as an alternative coin, the more the better. If one fails, the other can take its place. If one is lacking a certain feature, a different one can provide this feature and we can all choose and use what we prefer. We can always use them all as we do now. Bitcoin SV vs Bitcoin (BSVBTC) has managed to stay above MA200 as well EMA10/50/100. The only barrier missing based on the moving average indicator is EMA300, gray line on the chart. The strong green candle 28-November is the give-away. This candle gives away what is about to happen. This candle removes overhead resistance and prepares the terrain for growth. Ever since the June wave BSVBTC has remained strong with little correction/strong consolidation... After the consolidation phase comes the bullish jump. We expect additional growth. Based on the charts signals of course. Namaste.
BLong
by AlanSantana
Bitcoin SV Down 96.91%, Hits New All-Time Low - Bulls To Follow Bitcoin SV (BSVBTC) is likely to have completed its correction based on the volume profile. We can see high volume on the "B wave" while volume is much lower on "C wave". The fact that BSVBTC dropped by 97% and there is a strong long-term bullish divergence with the RSI also supports our statement above... Only time wil tell of course. We have a short-term target set at 99%. Over 1,670% potential profits to the All-Time High. It will take years to get there but somewhere we start. Thank you again for reading. Thank you for visiting, even on a Sunday, I love you! Thanks a lot for your continued support. Namaste.
BLong
by AlanSantana
3