BSV Price Prediction

The price of BSV today is $19.34, changing within the past 24 hours for -0.45% and 3.67% over the week. BSV’s price action is characterized by the Bearish sentiment.

The current volatility index for BSV is measured at 4.84%. BSV’s circulating supply is 19.97M. In the big picture, the highest price BSV has reached is $493.634 and its lowest observed price was $17.0744.

What is BSV Blockchain?

Bitcoin SV is a fork of the original Bitcoin with the intent to bring the protocol back to the original “peer-to-peer digital cash” vision that was described in the Bitcoin white paper. Hence the SV, which stands for “Satoshi Vision”. Bitcoin Satoshi Vision did not fork off Bitcoin’s blockchain directly but after a hard fork of the Bitcoin Cash blockchain. The BCH community split further in 2018 after the block size debates: BSV was supported by those who insisted a block limit should be extended way past 4 MB or removed completely.

The founders and prominent backers of “the Satoshi Vision” are entrepreneur Calvin Ayre and researcher Craig Steven Wright. The latter is notorious for his claims that Satoshi Nakamoto is his pseudonym and the many legal battles to prove it.

Of course, there is more to the BSV Blockchain and its utility. For more information about it, feel free to check out our Beginner’s Guide.

What Influences the Price of Bitcoin SV?

Protocol Development

It would come as no surprise that improving the protocol and platform would positively affect the price of an asset. The tricky part is that the BSV Blockchain Association believes that the Bitcoin protocol is set in stone in the original white paper.

Does it mean they make no improvements, then? Not necessarily: at least the Genesis hard fork was necessary to remove the block cap. Instead of amending the protocol, the teams work on software and features already enabled by the protocol. For example, even before inscriptions and ordinals blew up on the Bitcoin blockchain, BSV Blockchain enabled script commands, which essentially let smart contracts and NFTs work.

In the official roadmap, we can glimpse some future plans for the BSV Blockchain: overlay networks, mining infrastructure improvements to accommodate the Teranode engine, and Merkle service, to name a few. Being less rigid in development than Bitcoin Core, BSV Blockchain can introduce features that would have been deemed controversial in Bitcoin Core, like Layer-2s.

Trading

In 2022, BSV rallied against a red market for a really simple reason: a listing on Huobi Japan. However, there is a bit more to it than a new market. Japan is one of the few countries that has a comprehensive regulatory framework for digital assets. Being approved on a regulated exchange in this jurisdiction gives legitimacy to BSV Blockchain.

What’s more, the crypto market is simply very popular with overseas investors: the most recent price surge is believed to be originating from the rising volumes on the South Korean exchange Upbit.

The pendulum swings both ways: news about delistings further undermines trust in the project. This happened in January 2023, when Robinhood delisted BSV. It accelerated its fall against the USD and even more so against BTC.

Prominent Community Figures

Surprisingly, the news associated with Wright still manages to hold sway over the BSV price. The legal team of the researcher is engaged in multiple lawsuits over the copyright on Bitcoin and a couple of defamation lawsuits against influencers. In 2022, they submitted claims that large cryptocurrency exchanges, such as Coinbase and Kraken, “misrepresent Bitcoin” by “passing off” BTC as the “real Bitcoin” (in place of BSV), and this case is going to this day.

We have already mentioned a few of the cases but not all legal developments have been against Wright: the bitcoin.org website, hosting the original Bitcoin whitepaper, is to be taken down due to copyright violations.

The community of BSV holders, whether they sincerely agree with Craig Wright’s claims or not, still watches closely for news that can impact the integrity of the project.

BSV Sentiment

Which way the market swings today? Overall, technical indicators show that currently, the sentiment in the BSV markets is Bearish. The Fear and Greed Index for BSV today is in the 29 (Fear) zone.