Bitcoin SV Price Prediction as BSV Outperforms Bitcoin – Are Whales Now Moving to BSV?
The Bitcoin SV price has surged today, rising to $40.36 and marking a 6% gain in 24 hours as the cryptocurrency market falls by 2.5%.
BSV has also risen by an impressive 31% in the past week and by 33% in the last 30 days, although the altcoin remains down by 2% since the beginning of the year, in contrast to many other major tokens, including Bitcoin (BTC).
And with Bitcoin SV potentially being affected by the news that Christen Ager-Hanssen – the CEO of nChain (which launched and oversees the cryptocurrency) – has resigned from his position and left the company, BSV could come crashing back down to Earth very soon.
Viewed from a purely technical perspective, BSV looks very strong right now, with its indicators all flashing as if it's in the middle of a proper breakout rally.
BSV's relative strength index (purple) has shot up to 80 today, having been below 50 only a week ago and having been under 30 around a month and a half ago.
Similarly, the coin's 30-day moving average (yellow) has begun climbing higher and looks on course to pass over its 200-day average (blue), yet this may not happen for several days yet, meaning that the current rally could continue for a while longer.
It's also worth noting that BSV's support level (green) had been rising steadily over the past few weeks, implying that it had consolidated around a new bottom and was ready to begin recovering.
The superficial interpretation of today's surge is that BSV has indeed begun compensating for recent overselling, with some observers perhaps being likely to suggest that the market is beginning to accumulate the coin ahead of its next halving (due in April).
However, it's very curious that today's very noticeable rally has happened so soon after the
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