While all crypto markets have been drowning in red, Bitcoin SV trended and unexpectedly surged. We recap the BSV news that caused it and review expert opinions to give you the idea of what awaits Bitcoin SV up to the end of the decade.
Bitcoin SV Forecasts for 2022–2030
|Year||Price Forecast, USD|
- Despite Bitcoin SV shedding most of its market cap in recent years, the majority of forecasts is bullish;
- The highest possible target is given for as soon as the current year but the lowest is projected into 2025.
What is Bitcoin SV Blockchain?
Bitcoin SV is a fork of the original Bitcoin that was made to make the protocol more like the “peer-to-peer digital cash” that was described in the Bitcoin white paper. The SV stands for “Satoshi Vision”. Bitcoin Satoshi Vision did not fork off Bitcoin’s blockchain directly but after a hard fork of the Bitcoin Cash blockchain. The BCH community split further in 2018 after the block size debates: BSV was supported by those who insisted a block limit should be removed completely.
Among the prominent backers of “the Satoshi Vision” are entrepreneur Calvin Ayre and researcher Craig Wright. The latter is notorious for his claims he is actually Satoshi Nakamoto, and the legal battle associated with that.
Of course, there is more to the Bitcoin SV protocol and utility. For more information about it, feel free to check out our Beginner’s Guide.
Bitcoin SV Price History
Bitcoin SV Price in 2018–2020
As a result of a community schism, another fork happened. Bitcoin SV forked off the Bitcoin Cash blockchain in November 2018, at the time of a scheduled update. Bitcoin SV blockchain received significant support from exchanges and a part of the community, hence the surge above $200 at the start. However, a sell-off of the airdropped BSV token happened as quickly, bringing it closer to $50. The next moments when BSV shined occurred later in 2019 and especially 2020. Around the time of the Genesis hard fork, its price managed to reach a long-standing record around $422.
Bitcoin SV Price in 2021–2022
Despite not seeing much action beyond early 2020, in 2021 Bitcoin SV caught wind of the bull market and ran to the current all-time high. The highest BSV price ever recorded at the moment is $491.64 on April 16, 2021.
At the time of writing, BSV is worth $64.23 and the coin ranks 40th by market cap according to CoinMarketCap.
What Influences the Price of Bitcoin SV?
It would come as no surprise that improving the protocol and platform would positively affect the price of an asset. The tricky part is, the Bitcoin Association believes that the Bitcoin protocol is set in stone in the original white paper.
Does it mean they make no improvements, then? Not necessarily: at least the Genesis hard fork was necessary to remove the block cap. Instead of amending the protocol, the teams work on software. Among the latest introduced features are LiteClient and extended support for a smart contract language sCrypt. The LiteClient is an especially welcome novelty since the Bitcoin SV network now includes blocks as huge as 3.8 GB which some nodes struggle with.
The reason BSV rallied while the market is in the red is actually really simple: a listing on Huobi Japan. However, there is a bit more to it than a new market. Japan is one of the few countries that has a comprehensive regulatory framework for digital assets. Being approved on a regulated exchange in this jurisdiction gives legitimacy to Bitcoin SV. What’s more, the crypto market is simply very popular with Japanese investors.
Is Craig Wright Right?
Surprisingly, the news associated with Wright still manages to hold a sway over the BSV price. The legal team of the researcher is engaged in multiple lawsuits over the copyright on Bitcoin and a couple of defamation lawsuits against influencers. Most recently, they submitted claims that large cryptocurrency exchanges, such as Coinbase and Kraken, “misrepresent Bitcoin” by “passing off” BTC as the “real Bitcoin” (which they believe BSV is).
The community of BSV holders, whether they sincerely agree with Craig Wright’s claims or not, still watches closely for the news that can impact the integrity of the project.
Bitcoin SV Price Prediction 2022
With all these in mind, let’s see what industry experts think about the future forecast for Bitcoin SV.
Using technical analysis, The News Crypto plotted a path that BSV can follow: it is trading near the support level, below which the lowest is $33.702. In contrast, if it prolongs the positive price action, the nearest resistances it will encounter lie at $75.934 and $107.783. The outlet claims that it can even reach $310.553 this year. Another media, Coinquora, also using Fibonacci extensions, suggests that by the end of 2022, Bitcoin SV has the potential to reach $193.68. In the nearest term, it is supposed to run up to $74.72.
YouTuber Cilinix Crypto took a moment to chart a couple of scenarios for Bitcoin SV after a bounce. In case it breaks out of consolidation, before reaching $65–70 it would need to overtake resistances at $56.5 and $58. Should this fail, the next targets for BSV are $53 and $45.
Bitcoin SV Price Predictions for 2023 and 2024
News and analysis outlet CryptoNewsZ is bullish on Bitcoin SV, and in 2023 they see it trading in the range between $125 and $155.
In comparison with the current prices, Bitcoin SV will start 2024 on a discount, somewhere between $49.306 and $72.508. By December 2024 though, it will move to a higher range of $59.283–87.181 — TradingBeasts.
Bitcoin SV Price Prediction 2025
What does an even more distant future hold in store? The opinions are even more divisive: LongForecast goes turbo bear on BSV and claims it will lose 75% of its value and arrive at $14.
On the contrary, TechNewsLeader is moderately bullish and believes Bitcoin SV will reach $199 on average. PricePrediction.net goes along and charts a broad range between $134.51 and $241.20 for BSV in 2025.
Bitcoin SV Price Prediction 2030
Going forward, no one knows what will happen to the crypto market as a whole and to the BSV blockchain particularly. Coin Price Forecast puts forward a guesstimate of $137.75–144.64 but a forecast so far in the future should only be viewed as an educated guess.
ChangeHero Prediction for Bitcoin SV
The team and the backers were bold enough to lift all restrictions and make a crazy attempt to restore the original Bitcoin protocol. However, aggressively pushing a contrarian ethos is most likely to backfire for the entire community, whether they indulge Craig Wright’s opinions or not. Due to that, the future of Bitcoin SV is uncertain.
The blockchain that claims to be the original Bitcoin is doing fine, but the narrative ties to Bitcoin act as a double-edged sword for its reputation. Regardless, the crypto community has high expectations for BSV.
Does BSV have a future?
Bitcoin SV supporters and developers are making sure the blockchain ecosystem develops and flourishes.
What is happening with Bitcoin SV?
Bitcoin SV has been trending on the news about listing on Huobi Japan. This new market gave access to a regulated and engaged market and boosted the confidence of investors.
Is BSV a good investment?
BSV, like other cryptocurrencies, is a high-risk investment. Consider doing your own additional research: this article does not constitute financial or investment advice.
What is BSV worth?
At the time of writing, Bitcoin SV is worth $64.23.