Bitcoin SV Price Prediction as BSV Price Skyrockets Up 30% Suddenly – Can it Overtake Bitcoin?

cryptonews.com:

The price of Bitcoin SV (BSV) has rallied by a massive 30% in the past 24 hours, reaching $55.46 on a day when the cryptocurrency market as a whole has risen by 4%.

BSV is now up by 65% in a week and by 76% in a month, with the altcoin having gained by 35% since the beginning of the year.

With the market becoming increasingly convinced that a Bitcoin ETF will be formally approved soon, BSV has been able to ride the resulting wave of momentum, with the coin making up for lost time in the past few weeks.

And if a Bitcoin ETF is accepted soon, BSV is likely to rise even further, even if it may not be the direct beneficiary of such an approval.

As far as BSV's indicators are concerned, the altcoin is red hot at the moment, although it could certainly be argued that its rally of the past week has now peaked, and that it may be about to come down.

BSV's relative strength index (purple) has passed 80 and is nearing 90, which in theory means that the coin is now very overbought.

At the same time, its 30-day exponential moving average (yellow) has just risen above its 200-day average (blue), indicating that a breakout is in process and may continue for one or two days yet.

It's hard to say for how long the current rally will continue, with BSV breaking through several former resistance levels over the past week, defying previous warnings that it may have peaked.

It's encouraging to note that its 24-hour trading volume has climbed to around $400 million in the past few days, up from barely $20 million a week ago.

This indicates a notable growth in market interest in the altcoin, although it could be cited as yet more proof that BSV is mostly making up for poor performance in previous months.

Indeed, even with its 30% gain today, BSV is only