BSV was extremely volatile between 2019 - 2021. But starting in June of 2021 until today, volume and volatility really dwindled throughout the bear market. However over the past 6-8 months, volume has picked up and the price is slowly breaking out of an 18month falling wedge. Cue volatility!
One piece of news that you cannot see in this chart is that Robinhood delisted BSV in mid-January and its BSVBTC pairing tumbled 40%. A bit of an overreaction in my opinion and as a result, BSV's USD gains have been minimal in comparison to other alts in the market. However, I think the shock of the BSVBTC dip is starting to wear off and I could see it regaining lost ground against BTC rather quickly, returning it to previous early January BTC levels and beyond. That would be close to a 50% gain and possibly more if BSV pumps like it has in the past. There's a bullish cross on the daily MACD as it hits the zero-line. I think BSV has entered bullish territory for the moment. As a result, I am long here in the hopes of at least a quick scalp as its recovers against BTC with the possibility of a huge return if it pumps. Let's wait and see.
One piece of news that you cannot see in this chart is that Robinhood delisted BSV in mid-January and its BSVBTC pairing tumbled 40%. A bit of an overreaction in my opinion and as a result, BSV's USD gains have been minimal in comparison to other alts in the market. However, I think the shock of the BSVBTC dip is starting to wear off and I could see it regaining lost ground against BTC rather quickly, returning it to previous early January BTC levels and beyond. That would be close to a 50% gain and possibly more if BSV pumps like it has in the past. There's a bullish cross on the daily MACD as it hits the zero-line. I think BSV has entered bullish territory for the moment. As a result, I am long here in the hopes of at least a quick scalp as its recovers against BTC with the possibility of a huge return if it pumps. Let's wait and see.
Comment:
BSV jumped yesterday against BTC, but BTCUSD correction offset the the BSVUSD gains. I'm playing this cautiously. We might be in line for an overdue correction which could shock the markets.
