The Bitcoin SV Price Slips
The price of Bitcoin SV has decreased by just over 1% over the last 24 hours, trading at $48.62 as of 8:10 a.m. EST. This drop comes as investors are cashing out after Coinbase announced the termination of its support for Bitcoin SV.
Bitcoin SV Price May Breakout Towards the Downside
Coinbase has notified its users that they have until Jan. 9 to transfer their Bitcoin SV off the exchange. If they fail to do so, Coinbase will liquidate any remaining BSV remaining in their account. Many other exchange platforms have also delisted the token following a series of 51% attacks on Bitcoin SV back in 2021.
Bitcoin SV Price Losing Technical Support
Technical indicators on the cryptocurrency’s daily chart hinted at a possible drop in the Bitcoin SV price in the coming couple of days. The daily Moving Average Convergence Divergence (MACD) line was breaking away below the MACD Signal line, indicating a negative trend in the short term.
The daily Relative Strength Index (RSI) indicator also suggested a drop in the Bitcoin SV price, and buyers seemed to have lost their strength on Bitcoin SV’s daily chart as well.
If these technical flags are validated, the Bitcoin SV price may retest the immediate support level at $44.30.
Still Possibility of Positive Breakout
There is still a chance that Bitcoin SV can breakout towards the upside if it closes a daily candle above the symmetrical triangle pattern.
Set to Explode Once a Spot Bitcoin ETF Is Approved
Bitcoin ETF Token is positioning itself to benefit from the growing hype and anticipation surrounding spot Bitcoin ETFs. The project’s native token BTCETF is currently on sale for $0.005 through its presale, offering an estimated annual reward greater than 5,000% for staking rewards.
Transforming the Cloud Mining Landscape
Bitcoin Minetrix is accumulating investors’ funds at a rapid pace through its presale as it embarks on a journey to become the de facto cloud mining provider. Through its decentralized cloud mining platform, Bitcoin Minetrix is addressing all of the limitations, complexities and uncertainty surrounding Bitcoin cloud mining.
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Hot Take: Future of Bitcoin SV Post-Coinbase Support Termination
The termination of support for Bitcoin SV by Coinbase has caused significant drops in its price and increased uncertainty about its future performance. With technical indicators suggesting further downside potential and limited exchange support, it remains to be seen whether positive catalysts such as regulatory approval for spot ETFs could turn things around for this altcoin.
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