On today afternoon session we bring the graph of the recent BCH Fork called BCHSV (Bitcoin Cash Satoshi Vision) which reports a slight decrease of 2.87% dragging the price to the area of the $ 93 from where it has maintained a constant market lateralization without reaching over $ 100.
At this moment and due to the bear market the price of Bitcoin will define any other Altcoins, although Roger Ver would have said that this Fork is the “Vision of Satoshi Nakamoto” the price will not move if there is not an event that moves the mother of the cryptos … Bitcoin.
- BCHSV is maintained in a lateralization area of $ 93
- Low market volume prevents increase
- A fork surrounded by “manipulation” creates distrust
Although the White Paper of BTC allows this type of Forks, in many occasions this type of actions has been strongly criticized since they allow a group to create money from nothing. In the case of BCHSV this has created mistrust among many investors supporting the idea that, when Hard Forks can be created, the market can become saturated as we see it at this moment.
At the technical level it can be said that BCHSV needs a boost in the volume of purchases to reach over $ 1000, although in capitalization it is in position 8 this does not mean that it will hold such position for a long time since Litecoin at the time of recovery will easily surpass it.
For those who do not yet have BCHSV I could consider a purchase opportunity of 1 unit, personally I find it interesting to have an Altcoin conversion of this Fork, although for trading I do not recommend operating in lateralized or bearish markets such as the one we are seeing right now.
- Fast 9-period mobile media
- Support $ 89
- $ 100 resistance
This analysis should be used as an information medium; it does not pretend to be an investment advice. Investing in cryptocurrencies is highly risky; avoid investing the money that you cannot afford to lose.