RATE Group | BSV/USD loses ground as Bitcoin SV gets ready for a hard fork
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BSV/USD loses ground as Bitcoin SV gets ready for a hard fork

20 Jan BSV/USD loses ground as Bitcoin SV gets ready for a hard fork

Posted at 11:06h in Bitcoin News by

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  • Bitcoin SV gets ready for a scheduled hard fork.
  • BSV/USD may retreat to SMA100 4-hour within the current downside correction.

Bitcoin SV, now the 5th larges coin with the current market value of $4.89 billion, reached the top at $458.74 on January 14 and retreated to $272 by the time of writing. Despite that the coin has lost over 40% from the recent peak, it is still one of the best-performing coins of the year. 

New pump ahead?

While the reasons for the recent BSV surge range from the speculative pump to the new developments in the Kleiman vs. Wright lawsuit, the traders should brace themselves for a new boot of volatility. Bitcoin SV is moving towards Genesis hard fork that will take place on block 620538 approximately on  February 4. 

While the fork is not expected to result in a new blockchain, the price of the coin may be volatile around the event as the smooth network operation depends on how the participants update their software. 

Huobi Global…

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