Satoshi

Bitcoin SV

Vision

Bitcoin ETF

Bitcoin

<![CDATA[<figure class="image"><img src="https://cimg.co/news/126622/334353/bsv.jpg" srcset="" width="" class="content-img" alt=""><figcaption>BSV Chart / Source: TradingView</figcaption></figure>Bitcoin SV (BSV) bulls remain in the driving seat, with the cryptocurrency up another 6.5% on Thursday as its extends its gains this week to over 27%.<a href="https://cryptonews.com/tags/bitcoin-sv/">BSV</a>, a 2018 fork of the <a href="https://cryptonews.com/coins/bitcoin/">Bitcoin</a> blockchain that claimed to be aimed at bringing Bitcoin in line with Bitcoin creator <a href="https://cryptonews.com/tags/satoshi-nakamoto/">Satoshi Nakamoto&rsquo;s</a> vision (hence its name Bitcoin Satoshi Vision or Bitcoin SV), was last trading just above $43 per token, just off its highest levels since early July.The cryptocurrency, which last had a market cap of around $830 million, doesn&rsquo;t appear to have been boosted by any Bitcoin SV-specific news or catalysts.Rather, BSV&rsquo;s rally appears to be a function of gains in the <a href="https://cryptonews.com/news/bitcoin-news/">Bitcoin</a> (BTC) market this week on speculation the US Securities and Exchange Commission (SEC) will <a href="https://cryptonews.com/news/bitcoin-etf-watchers-wait-for-some-sort-of-announcement-friday.htm">soon approve a spot Bitcoin Exchange Traded Fund (ETF)</a>, <a href="https://cryptonews.com/news/crypto-market-could-grow-by-1-trillion-spot-bitcoin-etf-approvals-cryptoquant-report.htm">opening the door for an accelerated wave of institutional buying in the US</a>.False rumors did the rounds on Monday that the SEC had just approved Wall Street giant BlackRock&rsquo;s spot Bitcoin ETF application, sending Bitcoin briefly as high as $30,000.While that news was fake, it acted as a warning shot for the Bitcoin bears to stay out of the market, given they could quickly get liquidated by a quick ETF-news-related price pump.It also served as proof that spot ETF application approvals in the US are still not fully priced in.Bitcoin was last trading with a positive bias to the north of the $28,500 level &ndash; in light of the <a href="https://cryptonews.com/news/sec-decision-not-appeal-boosts-odds-for-grayscale-bitcoin-trust-gbtc-etf-conversion.htm">SEC&rsquo;s decision not to appeal against a recent legal loss they sustained against Grayscale</a> over their rejection of the digital asset manager&rsquo;s spot Bitcoin ETF application, analysts are more optimistic than ever that the agency is preparing to approve a batch of spot Bitcoin ETFs in 2024.That optimism could keep a floor under the Bitcoin price for now.While its correlation to Bitcoin is far from perfect, this should also help Bitcoin SV bulls remain in control.&nbsp;<h2 id="strong-price-prediction-where-next-for-bitcoin-sv-bsv-strong">Price Prediction &ndash; Where Next for Bitcoin SV (BSV)?</h2>Bitcoin SV&rsquo;s latest price pump, which has seen it hit new highs for the month, has opened the door to a potentially rapid move back towards BSV&rsquo;s highs for the year near&nbsp; $57.That&rsquo;s because the latest pump has seen SV break substantially to the north of all of its major moving averages (in the $33-35 area) and continue an uptrend that has been in play since the August lows at $26.BSV&rsquo;s 200DMA has been acting as strong resistance now going pretty much all the way back to early 2021.While BSV was able to break above its 200DMA substantially back in June/early July, this move higher proved short-lived.Bulls will be hoping the latest jump above the 200DMA is more sustained and a sign that the long bear market has finally come to an end.<figure class="image"><img src="https://cimg.co/news/126622/334354/bsv.jpg" srcset="" width="" class="content-img" alt=""></figure><h2 id="strong-crypto-alternatives-to-consider-strong">Crypto Alternatives to Consider</h2>Bitcoin SV (BSV)&rsquo;s outlook is good, but the cryptocurrency remains a big risk given its poor history of being unable to sustain solid price performance.For those looking for an even better probability of near-term gains, an alternative high-risk, high-reward investment strategy to consider is getting involved in crypto&nbsp;<a href="https://cryptonews.com/news/best-crypto-presales.htm">presales</a>.This is where investors buy the tokens of upstart crypto projects to help fund their development.These tokens are nearly always sold cheaply, and there is a long history of presales delivering huge exponential gains to early investors.Many of these projects have fantastic teams behind them and a great vision to deliver a revolutionary crypto application/platform.If an investor can identify such projects, the risk/reward of their presale investment is very good.The team at Cryptonews spends a lot of time combing through presale projects to help investors out.Here is a list of 13 of what the project deems as the best crypto presales of 2023.<a href="https://cryptonews.com/news/new-cryptocurrency.htm">See the 13 Cryptocurrencies</a>Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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Bitcoin SV Price Prediction as Price Surges Over 10%: Is the Bullish Rally Set to Continue?

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