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The Bitcoin SV price dropped 17% in the last 24 hours to trade at $93.80 as of 00:06 a.m. EST on trading volume that surged 159% to $215 million.
This comes as Judge James Mellor ruled that Craig Wright is not Satoshi Nakamoto, the pseudonymous creator of the Bitcoin network. The case was brought by the Crypto Open Patent Alliance (COPA) against Wright, who had claimed to be Nakamoto since 2016.
A judge has ruled that Craig Wright is not the creator of Bitcoin and he is not Satoshi Nakamoto. pic.twitter.com/Jdqxlv2jg0
— Jack Straw (@JackStr42679640) March 15, 2024
The BTC price and the whole market have been on a downtrend, with Bitcoin currently trading at $68,307.
Bitcoin SV Price Set For A Rebound Towards The Symmetrical Triangle
The Bitcoin SV price is coming from a consolidation phase that lasted until mid-February, with the bulls winning the struggle in March. The rally, however, saw the bulls receive some rejection around $125.74, which allowed for a retrace, but with the price maintaining the trend within the symmetrical triangle.
However, the bears took control of the price, driving it down below the lower boundary of the triangle, around the support at $90.38.
BSV is trading over the 200-day Simple Moving Average (SMA), which indicates that the price is still on an upward trajectory. If the bulls take control of the price for a rebound, the BSV would overcome the 50-day SMA hurdle, further increasing the bullish prospects of the price.
Additionally, the Relative Strength Index (RSI) has already dropped below the 30-oversold region, which indicates that BSV is under intense selling pressure as it tries to break to the north. The movement of the Average Directional Index (ADX) supports the move for a breakout as it moves to the north, indicating a move towards a strong bullish trend.
Bitcoin SV Price Prediction
The Bitcoin SV price analysis shows that the market is currently on a retrace but is showing signs of a rebound. BSV bulls aim to capitalize on the RSI as it has already entered the oversold region, meaning there is a looming price rebound.
Additionally, the 50-day SMA is trading above the 200-day SMA, with a golden cross formed at $76, indicating that the price will likely soar even more as the bulls target $150.
However, if the price continues with the retrace, it may breach the critical support zone at $90, settling around the major support zone at $79.90.
Meanwhile, as the BSV bulls look for more clarity around the price, investors are turning to Dogecoin20, a new ICO that some experts say has the potential to become the next Shiba Inu.
The Next Shiba Inu? New Crypto ICO Dogecoin20 Raises $200K
The Dogecoin20 (DOGE20) presale continues to attract attention, having amassed more than $200K in less than 24 hours as it hurtles towards its target of $441,000. Dogecoin20’s popularity is surging, fueled in the past 24 hours by comments from Elon Musk about Dogecoin (DOGE) eventually being used to pay for Tesla cars.
🚀 #DOGE20 isn't just another Shiba Inu-inspired derivative.
Upholding Dogecoin’s ethos to Do Only Good Everyday, it offers passive rewards through on-chain staking. 🌱🌟
Embracing a greener, more sustainable future with the most widely loved #Memecoin in the world! 🐶 pic.twitter.com/zqlONodRPB
— Dogecoin20 (@DOGE_COIN20) March 14, 2024
The project is the latest addition to the DOGE family and operates as an ERC-20 token, utilizing the Proof-of-Stake (PoS) mechanism. The use of a PoS mechanism enables $DOGE20 to offer quicker, more accessible transactions, positioning it as an environmentally friendly option. Like Shiba Inu and Dogecoin, DOGE20 is poised to make the next generation of crypto millionaires.
Dogecoin20 brings an interesting twist to what the meme coin universe is used to by offering an exciting staking feature. The stake-to-earn feature offers buyers an opportunity to be part of the action and earn a passive income.
By utilizing smart contracts powered by #Ethereum, #DOGE20 transcends being just a #Memecoin. 🐶💰
Bringing passive reward potential to the #Crypto Community! 🌟
Harnessing the power of your $DOGE20 #Tokens by #Staking and earning rewards. 💸 pic.twitter.com/19BxjvI2JJ
— Dogecoin20 (@DOGE_COIN20) March 14, 2024
Buy And Stake $DOGE20, 2,813% Annual Rewards
Investors can buy and staking $DOGE20 for an astonishing 2,813% annual percentage yield (APY). There are over 995 million $DOGE20 tokens that have already been staked.
Jacob Bury, a prominent crypto YouTuber, believes that Dogecoin20 is one of the best meme coins to invest in right now.
You can buy $DOGE20 now for just $0.00014 per token. But remember that there will be a price increase in about six days.
To purchase $DOGE20, head to the official Dogecoin20 website, where you can exchange ETH and USDT for $DOGE20, or buy directly with your bank card.
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