Bitcoin SV (BSV) Technical Analysis: New Bull Run Underway, Looking to Break Back above Supporting Kumo
Cryptovest
Published Dec 05, 2018 02:35PM ET
Updated Dec 05, 2018 03:41PM ET
Bitcoin SV (BSV) Technical Analysis: New Bull Run Underway, Looking to Break Back above Supporting Kumo
Bitcoin SV, one of the hard-forked projects to emerge out of the recent Bitcoin Cash split, is currently the best performing coin among the top ten cryptocurrencies by market capital following a recent surge of new bullish support. Right now, BSV is the only altcoin to break back into the green ahead of BTC after another bearish day, securing a gain of 1.66%.
In the news this week, nChain, the core development team behind Bitcoin SV, announced its latest blockchain project in the pipeline, Metanet. According to nChain’s Chief Scientist and self-proclaimed Founder of Bitcoin, Craig Wright, Metanet will be a “secure alternative to the Internet, built on the blockchain”, where compressed data is sent around the network as a Bitcoin microtransaction so that people can profit from the value of data as opposed to relying on ads and other online revenue streams.
At this moment, BSV is on track to recover back on to the 2hr supporting Kumo on the Ichimoku indicator as bullish momentum continues to drive the asset upward. If bulls can achieve this, it will be a very promising signal for BSV going into the rest of this week.
On the 2hr BSV/BTC chart, we can se...
This article appeared first on Cryptovest
Get The News You Want
Written By: Cryptovest
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.