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Bitcoin Satoshi Vision price prediction for 2021 and future forecasts

Bitcoin SV forecast overview

Bitcoin SV forecast: H1 2021
Price: $ 230- $ 250
Price drivers: technical rebound from 50 SMA, second wave of COVID-19, crypto market sentiment
Bitcoin SV forecast: 1 year
Price: $ 350- $ 400
Price drivers: Post COVID-19, safe haven status, restoration of the global economy
Bitcoin SV forecast: 3 years
Price: $ 2,000
Price drivers: higher bond yields, safe haven status, economic recovery, post-coronavirus

Bitcoin SV has the only crypto that has not yet benefited from the surge in the cryptocurrency market. It went up twice but returned the profits pretty soon. It started as the hard fork of Bitcoin Cash BCH in November 2018, which itself began to enter life as a Bitcoin fork. The SV stands for Satoshi Vision (SV). It started at around $ 100 more than two years ago with the goal of adapting the protocol to larger block sizes to lower transaction fees. The cheaper fees are in line with Satoshi Nakamoto’s original Bitcoin vision, hence the name.

It has made some good strides in that regard as transactions continue to climb to record highs and continue in that direction, but that hasn’t attracted buyers. BSV started life after the first gold rush in the cryptocurrency market in late 2018, so we don’t know how it would have reacted back then, but based on the price development so far, we can say that Bitcoin SV completely missed the crypto craze of late 2020 and early 2021.

Recent changes to Bitcoin SV price

Period Change ($) Change%
1 month +48 + 22.9%
3 months +81 + 47.9%
6 months +45 + 21.1%
1 year -102 -28.3%
Since conception +161 + 161%

Factors Affecting Bitcoin SV

Bitcoin SV is listed as BSV or BCHSV in various cryptocurrency exchanges because it is a hard form of Bitcoin Cash. The main goal in the Bitcoin Cash spin-off was low fees, which means that scalability remains a focus for BSV developers. Current data show that transactions have increased and that BSV should further improve scalability. This is a positive factor for Bitcoin SV compared to Bitcoin. Bitcoin SV development is led by nChain. To begin with, this cryptocurrency was endorsed by early Bitcoin Cash supporters like Calvin Ayre and Craig Wright.

Bitcoin SV Live Chart

BSV / USD

Bitcoin SV price prediction for the next 5 years

Given the public interest in Bitcoin, which is evolving from a means of payment to an investment vehicle for added value, the need arose for another Bitcoin fork to take on a life of its own as a payment method. This is how Bitcoin SV began. The Bitcoin Cash (BCH) network forks twice a year as part of planned protocol upgrades. In November 2018, unlike previous BCH forks, there was a competing proposal that was inconsistent with the published roadmap. That month, both groups started creating blocks in their respective separate blockchains, creating Bitcoin SV (BSV) as a result of this split.

Bitcoin SV scalability

As mentioned above, transaction fees and transaction costs were the main reason Bitcoin SV was born more than two years ago. The Bitcoin Cash protocol was updated back then to increase scalability by changing the way the blockchain stored information. Craig Wright, the founder of Bitcoin Cash developer nChain, liked the idea that this could enable software developers to create intelligent contract software platforms on the Bitcoin Cash blockchain. BCH developer nChain made a software upgrade and named it Bitcoin Cash SV (Satoshi’s Vision). As a result, Bitcoin SV was born in November 2018 after Bitcoin Cash was diverted, which opened a conflict between miners who supported the new fork Bitcoin SV and Bitcoin Cash.

Satoshi Nakamoto’s main vision for Bitcoin was to be a payment instrument of broad, and Bitcoin SV has tried to live up to that vision since the split. According to the miners who support BSV, one of the options is to increase the block size. Bitcoin SV proponents and the Bitcoin Cash community differed in terms of block size, hence the division. The BCH backers wanted the block size to stay at 32MB, while the Bitcoin SV backers wanted the block to be increased to 132MB. The larger block size has supported the increasing number of transactions, which has increased sharply in recent months as the demand has soared during this time. Bitcoin SV’s (BSV) Scaling Test Network (STN) hit a new record last month, processing more than 9,000 transactions per second (tps) at the end of January.

Competition with Bitcoin

Just like the relationship between Bitcoin and Bitcoin Cash, which is characterized by a lot of competition, the situation with Bitcoin SV is similar. There are attacks by the Bitcoin community that have burdened the BSV. In the spring of 2019, a Twitter and Bitcoin user named “Hodlnaut, who was also known for the” Lightning Torch “experiment, publicly criticized Wright with a large Twitter crowd, while Wright responded with threats of legal action and his comments as Scam. The Twitter crowd later tuned in to Wright and hurt the mood for Bitcoin SV.

This was just the beginning, however, as a number of crypto brokers delisted BSV. Binance was the first to remove Bitcoin SV from the exchange. Kraken and Shapeshift followed shortly afterwards, wiping Bitcoin SV, while Binance’s CEO Changpeng Zhao went even further, commenting on Twitter that Wright was a “scam” and that “anyone who technically supports BSV should attack the fraudulent Craig Wright” . Who is poisoning YOUR community and not attacking the rest of the world? “They blamed the“ sense of community ”. On the flip side, the BSV community responded with Ed Pownall, a PR representative for Calvin Ayre and one of the SV’s biggest supporters, who replied that the delisting of BSV “is a dangerous precedent and this exchange is“ market manipulation ”and“ God play “accused.

Future developments for Bitcoin SV

While it was difficult in the beginning due to the competition with Bitcoin, which has a large market share and the public can turn against you, the current situation seems better and the future seems better. Several other exchanges have launched BSV, one of the newest being BuyUCoin. This is a digital commodity exchange popular in India. The company announced that it has officially launched support for Bitcoin SV [BSV] on his platform. BSV / INR and BSV / USDT trading pairs were listed on the platform and were available for trading.

Bitcoin SV uses the Scaling Test Network (STN), a Bitcoin Association project operated by nChain. The aim is to continuously improve the scalability of the company. There are two ways in which STN uses the nodes for mining and eavesdropping around the globe to ensure that the transaction numbers displayed come from a globally distributed network in order to match real-world operations around the world as closely as possible to the Internet of the Things (IoT).

It’s still an early test for STN version 1.0.7 in terms of chain lengths, but so far users are noticing raw performance improvements. Kristensen commented on improvements to the STN to increase capacity:

“The performance improvements in 1.0.7 played a big role here. The care and dedication of the SV knot team are unsurpassed. The improved handling of chained transactions appears to be paying off. We want to play around a bit more here with the recent increase in supporting chains of 1,000 by default. “

So far, we’ve had some record-breaking transactions per second (TPS) in 2021. The record TPS breaks were achieved with chain lengths that varied between 2 and 12. This confirms the long-term stability of the network under load. BSV likes big blocks. The transaction capacity of BSV continues to grow. In early February, 16,415,525 transactions were recorded in a single block. This is the largest in a blockchain that has ever existed. It will only increase as the next round of testing starts with chains of 25 that increase as the days go on.

All of this shows that the BSV blockchain is preparing to receive and process big data and enterprise tier applications. These can be any type of contract, such as financial or legal, IoT data, financial applications, exchanges, health data, government and property records, and a wide range of tokenized “assets” that can really be anything. These applications would also work globally. So it seems that the high processing capacity of BSV and the growing potential for scalability of transactions are becoming very attractive for companies that want to process high data throughput without delays and transaction bottlenecks. In continuation of this, DotWallet announced just a few days ago that it was releasing a new service called “Badges”, which is a further advancement for Bitcoin SV as developers can now create any type of token on the blockchain. This gives BSV the option of asset tokenization in accordance with BSV’s development vision.

Bitcoin SV technical analysis – BSV / USD trends are rising but very slowly

In the weekly Bitcoin SV chart analysis we can see that there is a clear trend and that trend is bullish as the lows keep getting higher. There was a backtrack after each jump showing that buyers weren’t as confident, and that’s no surprise given all the attacks. At the same time, every single pullback has been slightly higher than the previous one, which also confirms that the trend is bullish. The moving averages look a bit confused as they appeared only a while ago given the short lifespan of BSV, but the 100 SMA has now appeared and has taken shape. This moving average has served as a support since October, and after the hammerleuchter in the last week of January, which was a bullish reversal signal after the last two weeks retreat, the price rallied and is now rising. The current weekly candlestick looks pretty bullish and buyers have broken the previous resistance, but we’ll see if this dip ends like all previous ones, followed by a bearish reversal.

Bitcoin SV resumes bullish momentum after returning previous gains

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