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Bitcoin SV Price Forecast : Long Term BSV/USD Price Analysis

Craig Wright, the self-proclaimed Bitcoin Creator, continuously trying to prove himself the mysterious Satoshi Nakamoto. The Claims by Craig are highly criticized by Crypto Experts. He has been claiming for some time that he is Satoshi Nakamoto but has failed countless times to provide evidence of this fact. This behavior of Craig is now backfiring him. Bitcoin Satoshi Vision is facing the consequences of these controversies, Bitcoin SV is sister chain of Bitcoin Cash and Craig Wright is the lead developer of BSV.

Bitcoin SV suffers massive losses due to a backlash of controversies with its lead developer. till date, the two major crypto exchanges, Binance and Kraken, have decided to remove the Bitcoin SV from their exchange, I.e BSV will be no longer tradable on these two exchanges. The two exchanges will stop trading on BSV on April 22, citing Kraken’s “behavior completely antithetical to everything we at Kraken and the wider crypto community stands for.” Binance mentioned reasons such as “Evidence of unethical/fraudulent conduct” and “Level and quality of development activity” among other reason.

Bitcoin SV (BSV) Price Analysis – An Overview

BSV was not performing well even before the delisting. Once the news of Delisting went out, it started hitting the price cable, the price of BSV started crumbling down. It is currently trading around 58 USD, a significant drop from 90 USD where the coin was trading early April and could easily hit its lowest level of 40 USD in the next few days.

Distribution Territories: $ 100, $ 110, $ 120

Accumulation Territories: $ 35, $ ​​25, $ 15

The market experienced a short line of range moves between April 12 and 14, before a sharp drop that surpassed the SMA 50-day South indicator to $ 70 on April 15.

In the long-term market, this led to the 50-day SMA interception by the 14-day SMA from the top. Over the past few days, the market has traded around a low price, $ 60 lower than the two ADMs. Stochastic oscillators are now plunged into the oversold zone to consolidate.

The market now seems to have set a new sales wall at $ 70. And an energetic breakthrough in the above-mentioned area could cause the market to post more market rises. In the meantime, it may take some time before this can happen, as there is still room for price movements.

Most likely scenario: The continuous decline of $ 40 as the initial target. The disadvantages can continue from there, depending on the basic scene. All upward movements must be considered speculative, at least for the moment.

Alternative scenario: lateral movement with low volatility and a general decline in interest in this coin.

About Steve Anderrson

Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain. Join the official channel of thecoinrepublic, For the latest news updates: https://t.me/thecoinrepublic

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