Is It Too Late to Buy Bitcoin SV? BSV Price Shoots Up 25% as Meme Kombat Approaches Launch
Dr. Craig S. Wright, the founder of Bitcoin SV (BSV) and self-proclaimed Satoshi Nakamoto, has recently taken to social media to articulate his views on Bitcoin’s foundational principles.
Wright’s discussion about the original intent of Bitcoin, as outlined in the Bitcoin white paper, has sparked renewed interest in the crypto community. His critiques on the misuse of Bitcoin’s initial vision are seemingly resonating with some investors. Wright’s assertive comments have not only stirred up discussions within the cryptocurrency community but also coincided with a considerable surge in BSV’s price.
If people actually read my paper, they would see that it is not merely the longest chain. HONEST Nodes do not accept payments and process transactions that do not follow the original protocol. This distinction that is being dropped from the description of how bitcoin works is… pic.twitter.com/lqvHXCRj1D
— Dr Craig S Wright (@Dr_CSWright) January 6, 2024
Following Wright’s critiques, the BSV price reached a peak of $95, an impressive 25% increase, before a slight retraction to the current price of approximately $91.14. The market capitalization currently stands at $1.78 billion, and there has been a huge jump in 24-hour trading volume, with volume reaching $427.2 million, an increase of 230.52%.
The 20-day EMA for BSV is at $90.20, hovering above both the 50-day EMA of $89.01 and the 100-day EMA at $86.78. This alignment of moving averages typically indicates a bullish trend, suggesting that the BSV price might maintain its upward trajectory in the short term.
The MACD (Moving Average Convergence Divergence) for BSV currently stands at 8.96, marginally higher than yesterday’s 8.94. This slight increase signifies a continuation of the
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