The post Bitcoin SV Prediction: The Rise and Rise of BSV appeared on BitcoinEthereumNews.com.

Bitcoin SV turned bullish earlier this week rising 60% from the $34 support floor to an intraday high 54.7 reached during the early asian trading hours on Friday. BSV is up 28% over the last week and 36% in the past 30 days. At the time of writing, BSV was targeting a return to $56, levels last seen in early July. Bitcoin SV’s market capitalization has now crossed the $1 billion mark to stand at $1,025,323,619 and its trading volume has leaped 70% over the last 24 hours to $277 million. This places the Bitcoin fork at position 41 on the CoinMarketCap ranking and is leading the crypto gains on Friday as shown below. Top Crypto Gainers Today BSV price appears to have benefited from the rally that Bitcoin (BTC) experienced earlier this week when traders thought that the U.S. Securities and Exchange Commission (SEC) had approved a spot Bitcoin Exchange Traded Fund (ETF) application filed by Blackrock The news by Cointelegraph on X handle turned out to be fake with the tweet being pulled down a few moments later. Nevertheless, Asset manager BlackRock has filed an amended prospectus for its spot Bitcoin ETF application with the SEC. This follows similar amendments by Ark Invest and Fidelity earlier in the week. In its amendments, the Blackrock appreciated how competitive the race for a Bitcoin spot ETF approval is and provided further details on the product’s pricing and reporting mechanisms. As the norm, Bitcoin and related cryptos responded with some liquidity, with the big crypto rising more than 3% over the last 24 hours to trade above $29,000. Bitcoin Cash (BCH) rallied 3% yo cross the $240 mark. This is evidence that the market supports the introduction of a spot Bitcoin ETF and if one is approved, bears will have a…

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Filed under: News - @ October 22, 2023 4:02 am