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New! Bitcoin Price Prediction: $3,600 BTC Price Is a Very Likely Scenario. When to Invest in Bitcoin (BTC)?
New! Bitcoin Price Prediction: $3,600 BTC Price Is a Very Likely Scenario. When to Invest in Bitcoin (BTC)?

Bitcoin SV (BSV) Price Gains 20% — How Can It Reach Top 10 and Be a Serious Contender?

  • Jack Thomas
    🤷 Opinions

    ✅✅ Since Bitcoin SV broke away and lost the ‘hash war’ with Bitcoin Cash, it has been falling, but that has changed recently as it gained 20% 💣🔥

Bitcoin SV (BSV) Price Gains 20% — How Can It Reach Top 10 and Be a Serious Contender?
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There has been a lot of action since November 15, 2018, when the Bitcoin Cash fork saw not only a hash war break out between the two forked chains, but also a massive drop in the cryptocurrency market, from which it has still not recovered.

The split in the Bitcoin Cash fork saw Bitcoin Cash SV essentially lose its battle with the then called Bitcoin Cash ABC, the latter keeping the naming rights of Bitcoin Cash. Because of this loss, many felt that the SV chain was pretty irrelevant, and could potentially fall away.

Now, however, the SV chain is one of the few that is spiking in price following Sunday’s market dump. Bitcoin SV is up over 20 percent and has been climbing the market cap rankings as well. Currently, it sits at 11, but a top 10 spot is in its sights if it manages to displace Binance Coin.

If the coin does break into the top 10, it would be fair to say that it deserves to be taken a little more seriously as clearly there is an interest in its offering — and it seems that interest is currently coming from South Korea.

Big in Korea

Over the past 24 hours, Bitcoin SV has surged from just over $61 per coin to around $74 before pulling back a little to currently hold at $71. This movement represents a 20 percent increase and has pushed the BSV market cap to just under $1.3 billion, allowing it to close the gap on Binance Coin in tenth place, just $100 million ahead.

The daily volume for BSV has increased from $110 million to $237 million with the Bit-Z exchange taking the largest share of it at around 24 percent of that action. South Korea has been buying up BSV during Asian trading, as around 11 percent of total volume has been in Korean Won on Upbit and Bithumb.

Why is it on the rise?

In terms of major news surrounding the coin, there is not too much to write home about, but there has been some advancements for it.

A Lithuanian-based fintech firm, CoinGate, has enabled trading and payments for BSV. According to the report, the company serves over 4,500 business clients and 80,000 registered users and thus will help spread the adoption of the cryptocurrency.

However, with a lot of the action coming from Korea and this company being based in Europe, it is hard to draw a correlation between the two that could cause such a surge in the market. Regardless, if the trading interest continues in Korea and can spread out and move a little more, there is a big case for BSV making it into the top 10.

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Ripple’s Market Cap Further Slips Behind Ethereum as XRP Price Prediction Stalls

  • Jack Thomas
    🤷 Opinions

    📊👀Ripple’s Market cap, through its XRP token, was ahead of Ethereum at a few stages, but its price prediction has slowed and come under pressure from resistance below the $0.33 mark, and in doing so, Ethereum has pushed higher into second place

Ripple’s Market Cap Further Slips Behind Ethereum as XRP Price Prediction Stalls
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Contents

Ripple, and its native token XRP, have been stuck in a bit of a price vacuum over the past few weeks and months as many other coins have managed to break such marks. Sitting between $0.30 and $0.33, XRP has actually started to even lose ground on Ethereum in terms of market cap.

The third-ranked coin by market cap has in the past managed to over take the smart contracted-based blockchain as it surged in interest and growth in the recent past, but now it has fallen back by nearly $2 billion.

In terms of price prediction, XRP has a lot of hope and positivity surrounding Ripple’s efforts to make it a staple of banks going into the digital age, but it has stalled in its own growth recently, which is surprising seeing as other altcoins have doubled in 2019 alone.

XRP’s sticky situation

There was a small drop in the market last week which was halted when Bitcoin managed to keep above $4,000, but XRP also tested an important resistance. After testing the $0.3000 support, XRP’s price started a short term rebound against the dollar.

The price traded above the $0.3050 and $0.3080 resistance levels. The price even traded above the $0.3100 level, but it faced a strong resistance near the $0.3120 level. Besides, the price even failed to test the $0.3120 level and the 100 hourly simple moving average. A high was formed at $0.3113, and later the price started a downside move.

XRP is especially low currently, testing its floor rather than the ceiling, which has been seen closer to the $0.33 mark, but what is not helping the coin get past any of these resistance marks is its drop in market cap.

Ethereum taking the initiative

It is difficult to tell if Ethereum is making ground on XRP’s market cap based on its own growth – which has not been astronomical in terms percentage gains in the last few weeks – or if it has to do with XRP losing its own worth and value in the eyes of the market.

Ethereum is facing some major changes in the near future, and it could be that early investors are starting to look for a cheap deal as they prepare for the Casper upgrade and the change to Proof of Stake. Ethereum is bound to make big ground when that happens.

Ripple may not admit it, but having XRP as the second ranked coin above Ethereum would be a big deal for them as it adds a lot of legitimacy in the general market and helps in boosting their own worth and value as a company looking for more partnerships.

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