Most people are familiar with Bitcoin (BTC). The majority have heard the word in the news. This cryptocurrency is the most popular among investors and traders. This digital asset has exhibited impressive price climbs over the years. As a result, early Bitcoin investors had very high gains.
However, there are many other cryptocurrencies. They are collectively referred to as altcoins. Some of these altcoins have emerged as attractive opportunities for investment. That’s the case of Bitcoin Satoshi Vision or simply Bitcoin SV (BSV). This is a relatively new cryptocurrency. It emerged in 2018 as a result of a split of the Bitcoin Cash (BCH) blockchain.
Soon after its launch in November 2018, Bitcoin SV had an impressive price hike reaching $88. Two days later, its price doubled. Within a week of its lunch, Bitcoin SV had a price of $240. Why did the coin have such a rapid price increase? Being related to Bitcoin, top exchanges worldwide started to accept the asset. Thus, a BTC to BSV exchange was readily available since the early days of Bitcoin SV. Investors immediately showed interest in this new coin.
Alas, the BSV price dropped drastically by the end of November 2018. But then, at the beginning of December of that year, the price of the coin began to recover. It reached $100 with a market capitalization of almost $2 billion. There were some price adjustments throughout that month. By the end of 2018, the BSV price soared again. It was traded at $120.
Is It Convenient to Invest in Bitcoin SV?
Over the years, this digital coin has exhibited good performance. There are some reasons to expect this trend to continue:
- Being a Bitcoin fork, Bitcoin SV has a similar working principle to the most popular cryptocurrency in the world. Hence, many Bitcoin enthusiasts will likely continue buying this digital coin;
- Bitcoin SV features a larger block size in comparison to Bitcoin and Bitcoin Cash. As a result, transactions with Bitcoin SV are significantly faster. This functionality will continue attracting users, which will increase market capitalization;
- Although the BSV network is still young, everything indicates that it will continue to grow to become a very stable network.
As seen, Bitcoin SV has a promising future. Will its price grow? As with any other cryptocurrency, it is difficult to predict because of high volatility. However, at the time of writing, the BSV price is almost $249.
This indicates that Bitcoin SV has kept its value during the few years of its existence. To monitor the current BSV price, you can use the LetsExchange crypto converter and track the short-term fluctuations. You can get a better idea of how Bitcoin SV will perform in the future by analyzing such price changes.
Price Forecast for 2021 and 2022
However, if you find it difficult to predict the performance of Bitcoin SV, here you can find a price forecast from experts. Most specialists agree that Bitcoin SV is a good long-term investment.
For the remainder of 2021, the price will fluctuate around its current price. However, a drop to $175 may be seen this year. Investors should not worry though. The BSV price will almost certainly recover in 2022. Gradual growth may lead to a price of slightly over $347 in 2025.
So, in general, Bitcoin SV won’t have a steep price climb in 2021-2022. This makes the digital coin more suitable for long-time investors. If you manage to hold your Bitcoin SV assets for a few years, you may have good gains by 2025 or beyond.