Bitcoin SV Price Prediction as BSV Becomes Best Performing Coin on the Market – Can BSV Overtake Bitcoin?
The price of Bitcoin SV (BSV) has risen by 11% in the past 24 hours, with its jump to $39.83 making it one of the best-performing top-100 coins in the market today.
Its current price also represents 7% gain in the past week, yet BSV remains down by 23% in the last 30 days, as well down by 3.5% since the beginning of the year.
This slippage since January 1 stands in contrast to the sizable gains made by such major cryptocurrencies as Ethereum (ETH) and Bitcoin (BTC), with the latter sitting on a 77% gain since the beginning of 2023.
Such a difference arguably puts paid to any notion that BSV may overtake or outperform BTC in the medium- or long-term, with BSV possibly being harmed by the fact that co-founder Craig S. Wright last week lost an appeal he had filed against Bitcoin podcaster Peter McCormack.
There's no doubt that BSV looks pretty strong right now, with its technical indicators firing off healthily and providing the impression that the altcoin may continue rising for the next one or two days.
BSV's relative strength index (purple) has shot up to 70, and what's encouraging is that it rose back up to 70 after dipping briefly yesterday, suggesting that its momentum is likely to continue in the near term.
Supporting this view is the fact that the coin's 30-day moving average (yellow) has begun rising steeply, but it still has plenty of time left before it hits the 200-day average (blue), meaning that the rally could continue for several days yet.
Indeed, BSV has been undervalued and oversold for a while now, so it's credible to suggest that it's overdue some kind of sustained rally.
On the other hand, it's hard to say what exactly on a fundamental level may be causing BSV to rally at the moment, with the only positive
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