Identified on this chart, are potential target lines in blue representing previous resistance and floors in the price of bitcoin . I have shaded them in different colors, but it doesn’t have to bounce inside them as it did with the yellow area.
I don’t know if it is going all the way back down or not.
There are some that believe the current Bitcoin is broken, due to its inability to handle large transaction , thus resulting in high fees for timely transaction verification. There are also high criticisms of the amount of electricity that is used to secure the network, and finally integration with things like the lightning network, which relegate bitcoin to simply a settlement layer.
What does this mean to you?
If you have not noticed Bitcoin SV ( BSV ) it is a fork from Bitcoin Cash that has now taken 5th place in market cap, and seeks to restore bitcoin back to it’s original intent. The Satoshi Vision, version of bitcoin , could, at least in theory, be making a run to displace the original bitcoin .
How far fetched is this idea?
Hard to say really. No one took Bitcoin Cash SV very seriously, and whether people like the guy who did the fork or not, this version of bitcoin does bring about as close to an unmolested bitcoin as possible. Will it really replace bitcoin? I don’t know.
What makes one of these coins currently worth $3300 and the other worth $110 a coin?
These are the thoughts I have today.
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