Bitcoin SV: the price of BSV rises
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Bitcoin SV: the price of BSV rises

By Federico Izzi - 22 Oct 2019

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The price of Bitcoin SV (BSV) continues to rise and be one of the best crypto performances with a 12% increase. BSV continues to grow with a movement that in just 2 days has achieved a +30%. Bitcoin Satoshi Vision recovers 115 dollars, levels that were abandoned shortly after mid-September. 

For Craig Wright’s crypto, this is a former support level that has now become a major resistance which, in the event of a breach, could push prices to continue rising in the coming days. It’s a speculative rise because there’s no news to support this weekly rise that turns out to be the best gain among the top 50 most capitalised cryptocurrencies. 

Among the rises, behind Bitcoin SV, there is Theta, in 59th position with 83 million of capitalisation, rising by just under 12%. On the opposite side, the worst of the day is Aurora (AOA) who loses 10%. 

Among the big ones, the return of a downward trend by the Leo Token should be highlighted, who, with -3%, fell below the dollar threshold, the launch value of last May.

Source: COIN360.com

Daily trading volumes continue to remain between 55 and 60 billion dollars. Market capitalisation is slowing down and stands at just over $223 billion. The dominance of bitcoin remains unchanged at 66.4%. Ethereum’s market share, on the other hand, gained a few fractions of a decimal place and is 8.4%. Ripple at 5.8% is at its highest level in the last six months.

Bitcoin chart by Tradingview

Bitcoin (BTC) Price

The positive recovery that was triggered yesterday saw the prices of bitcoin return to around $8,300. Despite the positive growth that pushed the price even more than +3%, today BTC fluctuates around parity. In this context, there is a lack of purchase volumes. The movements of the last 24 hours do not give any particular indication of either the short or medium term. 

The fluctuations still remain in the lateral band that has been characterising bitcoin since the end of September. For bitcoin, it is necessary to recover 8,600 dollars or there would be a bearish effect that could turn into an avalanche if BTC returns below 7,600 dollars.

Ethereum chart by Tradingview

Ethereum (ETH) Price

Ethereum dangerously rests on the support of the trendline that began in December and joins the upper relative lows of February and the last few weeks. This $175 price move could become dangerous. A lack of volume in such a sensitive environment could see speculation attacking a downward movement.

A rise above $180 for Ethereum could give a turning point indication, with the breakup of the bearish trendline passing through the highs of the last three months that previously proved its worth by rejecting several times the attacks of the bears.

Ripple chart by Tradingview

Ripple (XRP) Price

In the last 5 days, Ripple has tried to push itself above the technical and psychological threshold of 30 cents of a dollar, maintaining an upward medium-term trend, which began with the sinking that brought the price to the lows of September 24th, the lowest level of the last two years. 

From there began a recovery that saw Ripple try to break the threshold of 30 cents. In a context technically set to rise, the breaking of this technical and psychological resistance accompanied by volumes could push Ripple prices to rise in a few hours to the peaks identified in the area of 33-34 cents of the dollar.

A failure to break the 30 cents and a continuation of the consolidation phase could lead Ripple to revise the 25-26 cents of the dollar. 

Ripple remains well set up on a technical basis that had not been recorded for several months. In this context, there are more signals favourable to XRP.

 

Federico Izzi
Federico Izzi

Financial analyst and independent #trader – S.I.A.T. & Assob.it partner. He operates actively on stock and derivatives markets (futures and options) since 1997. A precursor of cyclic-volumetric analysis he is known for having identified the most important upward and downward movements in the financial markets of recent years. He participates annually as a speaker at the ITForum in Rimini since the 2010 edition and InvestingRoma and Napoli since the first edition of 2015. He is a guest and market expert on the "Trading Room" and "Market Driver" broadcasts of Class CNBC, Borsa Diretta.tv and on the evening news of Traderlink. Since July 2017 he is a permanent guest on LeFonti.TV, the only weekly national space dedicated to cryptocurrencies alongside the most important international experts in the field. Since May 2017 he is officially a Bigbit technical analyst. He was interviewed as a #cryptocurrency expert for Forbes Italia, Panorama, StartupItalia and DonnaModerna. He was recognized as the first Italian technical analyst to have published the first secular cyclic analysis on #Bitcoin. Periodically publishes articles on ITForum News, Sole24Ore, MILANOFINANZA, TrendOnLine and Wall Street Italy. Federico Izzi is... "Zio Romolo".

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