Many people have at least heard of Bitcoin by now. Even if they don’t understand it or have all the wrong ideas about it, they’ve heard of it. It is, after all, the oldest and most famous cryptocurrency on the planet. But what a lot of people aren’t aware of is just how many different kinds of “Bitcoin” actually exist.
There’s Bitcoin, Bitcoin Cash, Bitcoin Gold, Bitcoin Diamond, Bitcoin 2, Bitcoin Private, Bitcoin Confidential, Wrapped Bitcoin, and a whole bunch of others. Over 90 in total, as a matter of fact. Some of these are forks of the original blockchain, others are cryptocurrencies trying to cash in on the name.
One of the names you may have come across is Bitcoin SV. If so, you might be wondering whether to invest in it. You’ve come to the right place. Read on for a Bitcoin SV price prediction for 2021, 2022 & 2025.
Bitcoin SV Historical Price Analysis
Bitcoin SV came out in late 2018 as a fork from Bitcoin Cash after a philosophical clash between two teams of developers. Its initial price was 72.82 USD on November 9th and climbed to 188 USD on November 13th. After the initial climb, Bitcoin SV’s price dropped and closed 2018 at 85.43 USD.
Most of early 2019 saw the price of BSV generally staying within the 60-70 USD range, but there was an important high-price time from late May to early July 2020 with a high of 241 USD on June 22nd, followed by a general downward slope that would make it worth around 97 USD by the end of the year. January 2020 was a good time for Bitcoins SV.
The first few days of the year saw a dramatic price rise, peaking with BSV's all-time high of 386.77 USD on January 14th. After showing a slightly lower price from mid-January to mid-February, it spiked up again to 364.79 USD on February 12th.
BSV’s price would remain in the 150-200 USD range for the rest of the year. Early 2021 has been a period of high volatility, up to 292 USD on January 10th, down to 162 on the 27th. Back up to 275 USD on February 13th and down to 173 USD by the end of the month.
Current Price, Market Cap & Supply Details
At the time of writing this article, one BSV is worth about 218 USD, with an 11% rise in price in the last 24 hours. The 24-hour low was 188.19, and the 24-hour high was 233.74 USD. There are 18,676,864 BSV tokens in circulation (89% of the total supply of 21,000,000 tokens). Current market cap is 4,062,186,465 USD.
Bitcoin SV Future Price Forecast Predictions
Crystal balls don’t work and time-traveling cars or police boxes don’t exist. So anyone claiming to be able to accurately predict the future is flat-out lying to you. Think about it… If they could do it, they would have stocked up on thousands of Bitcoins when they were basically worthless and be really rolling in wealth now that each one is worth over 60,000 USD.
But there are computer algorithms that take past behavior into account and try to project future prices. And some experts analyze that data, take some other variables into account and give us their own opinion. Let's take a look at these predictions
Short Term Forecast
Long Term Forecast
Bitcoin SV Price Prediction for 2021
2021 is expected to be a good year for Bitcoin SV, although not as big as expected for other cryptocurrencies. 1 BSV is expected to cost around 250 USD by the end of the year, meaning it would gain about 14.7% from its current price.
Bitcoin SV Price Prediction for 2022
2022 doesn’t look very good for Bitcoin SV, according to most price predictions. It could be worth around 180 USD by the end of the year. That’s 17.4% down from today’s price.
Bitcoin SV Price Prediction for 2023
BSV’s downward trend is expected to continue into 2023. Most predictions place the closing price at around 80 USD, meaning the token would lose over 60% of its current value.
Bitcoin SV Price Prediction for 2025
A lot of predictions agree that Bitcoin SV’s price could pick up a bit in 2025, with a mid-year price estimate of around 110 USD. While that value may be higher than the prices during 2023 and 2024, it is still only half of what the token is worth today.
Is Bitcoin SV a Good Investment?
According to most price predictions, 2021 could be a positive year for Bitcoin SV, with a predicted gain of about 5% by the end of the year. But there are a lot of cryptocurrencies out there with much higher predicted gains for 2021.
That, plus the fact of the prices being expected to drop starting in 2022, seems to point to Bitcoin SV not being a good investment either in the short or long term.
If you’ve decided that you want to buy some BSV tokens, you’ll find that it’s not much different from buying almost any other altcoin. First, you figure out where you can buy them (which exchanges list Bitcoin SV) and then see which currencies you can use to pay for them (which trading pairs are available). A good place to start is coinmarketcap.com. Let’s look at their market listings for BSV:
You can see that the top exchanges for buying Bitcoin SV are Huobi Global (with USDT, BTC and HUSD), Bithumb (with Korean Won only), KuCoin (with USDT, BTC, and ETH), Coinone (Korean Won only), and Bittrex (with BTC, USD, USDT, ETH and EUR).
So first, you choose your exchange, create an account there if you don’t already have one, or log in if you do. Choose your trading pair (if the exchange offers more than one) and transfer funds into your exchange wallet. Finally, go over to your exchange’s marketplace and make your purchase.
More Information about Bitcoin SV
What is Bitcoin SV (BSV)?
Back in 2017, there was a discussion among Bitcoin developers regarding the size of each individual block. Bitcoin was using a maximum block size of 8 MB. Some developers wanted to keep the block size small, so nodes didn’t have to be too powerful. Others wanted to increase the maximum block size to 32 MB so more operations could be managed per block, increasing the blockchain’s capacity even if that meant that nodes would have to be more powerful. These two groups of developers never managed to agree on which was the best way to proceed, so on August 1st, 2017, Bitcoin was split (forked) into two blockchains: one continued to run as Bitcoin, and the other became Bitcoin Cash.
Then, in November 2018, history repeated itself. Bitcoin Cash developers again started arguing about keeping or increasing block size. Just like before, both groups couldn't reach an agreement, and the Bitcoin Cash blockchain was also forked. The new blockchain is Bitcoin SV. SV stands for “Satoshi Vision.” Bitcoin SV creators say that increasing the block size can lower transaction costs, making cryptocurrencies more appealing for use as actual currencies instead of investments and use as a currency is more aligned with what Bitcoin's creator, the unknown person or group of people known as Satoshi Nakamoto, had in mind.
So, in a nutshell, Bitcoin SV is a fork of Bitcoin Cash, itself a fork of Bitcoin. I know… there’s an Inception-like vibe to it all.
Who is Behind Bitcoin SV?
The group of developers that created Bitcoin SV was led by Craig Wright and Calvin Ayre. Currently, Bitcoin SV’s development team is formed by:
- Steve Shadders: Chief Technical Officer
- Carl Jackett: Chief Operating Officer
- James Scott: Engineering Operations Manager
- Daniel Connolly: Lead Developer
- Matej Trampuš: Engineering Director
- Brad Kristensen: STN Operations Manager
- Raamprekash Balaguru: QA Manager
- Shaun O’Kane: Product Owner
There are a lot of cryptocurrencies with the word “bitcoin” in their name. Some of them are real forks of the original Bitcoin blockchain. You can think of a fork as something like a software upgrade on your favorite spreadsheet or word processor. But, in the case of a fork, once you upgrade to the new version, you won't be able to open the files you created with the previous one.
So Bitcoin Cash was an upgrade to Bitcoin, and Bitcoin SV is an upgrade to Bitcoin Cash. The thing is that, with blockchains, upgrading the software isn't necessarily the best way to go. If we really think about it, these two forks are basically just Bitcoin with larger blocks.
And while these larger blocks mean each fork has a higher capacity and lower transaction fees, they're really not bringing much else that is new. And with all blockchain projects, it's all about what new thing they bring to the table. Ethereum brought smart contracts. EOS brought Delegated Proof Of Stake and no transaction fees, etc.
Bitcoin SV might not be as innovative as it hoped to be and maybe that's why most experts predict that it won't be successful in the long run. But you, of course, are free to decide for yourself.
If, after hearing the experts and reading this Bitcoin SV price prediction, you still believe there is a bright future for BSV and want to invest in it, go for it. You might prove all the experts wrong.
After all, some of those same experts predicted Bitcoin would be dead by now. But what do you think? Do you believe Bitcoin SV will take off? Or are you among the ones who see no point in it? Let us know in the comments.