Joshua Henslee on Robinhood’s delisting of BSV: Just another short-term blow

bitcoin sv robinhood

Given Robinhood’s previous run-ins with the SEC, it is possible that Bitcoin SV is being removed due to a desire to reduce its risk exposure to some asset types. In Robinhood’s most recent 10Q document filed with the SEC, Bitcoin SV was singled out as a potential risk factor for the business. BSV was added to Robinhood in November 2018 following the BCH fork, with BSV distributed to all BCH bitcoin sv robinhood holders at the time. Therefore, BSV will have traded on Robinhood for roughly five years when it is removed. Robinhood announced that it will no longer support Bitcoin SV from January 25, sending the crypto sinking some 10%. Check out CoinGeek’sBitcoin for Beginnerssection, the ultimate resource guide to learn more about Bitcoin—as originally envisioned by Satoshi Nakamoto—and blockchain.

bitcoin sv robinhood

Henslee always keeps it real and acknowledges that this isn’t a positive event. BSV is currently ranked 54 among all cryptocurrencies in terms of market capitalization, with a total value of $745 million. It is significantly smaller than Bitcoin or Bitcoin Cash with market capitalizations of $335 billion and $2 billion, respectively.

Robinhood — Important changes to Bitcoin SV (BSV)

TheNewsCrypto is an online media publication that helps to educate readers about news, exchanges, and markets in the crypto and blockchain industry. Breaching the resistance at $40.65 would enable the Bitcoin hard fork to rise and tag the critical resistance at $42.10. Flipping this level into a support floor would allow the cryptocurrency to initiate a recovery rally and tag $44.70. At the time of writing, Bitcoin SV price is hovering right above its immediate support at $38.65. If the altcoin bounces off it and leverages the broader market’s bullish cues, BSV might be able to recover its losses. The price of BSV opened on Jan. 11 at $44.95 but has fallen 16.97% as of press time to $37.29.

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The app had originally added support for BSV back in late 2018, allowing buying, selling and trading the controversial Bitcoin fork backed by self-proclaimed Satoshi Craig Wright. Robinhood will delist Bitcoin SV and sell any BSV held on the platform after the deadline at market value. Notwithstanding any such relationship, no responsibility is accepted for the conduct of any third party nor the content or functionality of their websites or applications. A hyperlink to or positive reference to or review of a broker or exchange should not be understood to be an endorsement of that broker or exchange’s products or services.

Bitcoin SV update

By 2025, our price prediction forecasts that Bitcoin SV could be worth $178.76. Because Bitcoin SV has strong fundamentals and a lot of people are invested in this cryptocurrency, we predict that the future for BSV looks promising. Today, Bitcoin SV is currently trading at $37.24 with a total market cap of $717,452,213. The current price of Bitcoin SV is $37.24 and it is currently ranked #67 out of all cryptocurrencies. The amount of supply currently in circulation for Bitcoin SV is 19,266,077 with a total market capitalization of $717,452,213. BSV’s daily timeframe chart revealed that the asset was currently in a bear trend due to the downturn it was experiencing.

Bitcoin SV -the SV stands for “Satoshi’s Vision”-was created in 2018 as a spinoff (aka a “hard fork”) of Bitcoin Cash , which itself was a spinoff of Bitcoin . Like Bitcoin, Bitcoin SV is a digital currency that can be used for peer-to-peer transactions. Investing is speculative and when you invest money, your entire capital is at risk. You should do your own research before investing in any company or product. Bitcoin SV has amazing potential over the next few years as acceptance for cryptocurrency increases. Our market forecast indicates that by 2030, BSV could reach a new all-time high of $364.97.

The trading platform said users should sell or transfer their remaining BSV by January 25. Any BSV still in users’ Robinhood Crypto account after the deadline will be “sold for market value and the proceeds bitcoin sv robinhood will be credited to your Robinhood buying power,” it said. Bitcoin SV was first added to Robinhood’s platform in November of 2018 after a hard fork involving Bitcoin Cash created the token.

Failing to gain this support could see Bitcoin SV average around $316.56 and bottom out $305.39. Considering the adoption of BSV by countries around the world, Bitcoin SV can claim a maximum price of $216.00 by 2027 with an average price of $204.83 expected. Furthermore, the minimum price for the same year could see $193.66.

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Thus, many investors are cheering for the removal of BSV from popular exchanges. The change comes as a part of Robinhood’s routine review of its crypto products, meaning BSV will continue to be tradeable on the app until the deadline. However, it also highlighted that investors residing in Hawaii, Nevada, and New York have limited capabilities to trade BSV. BSV is the only coin Robinhood said will be impacted by the delisting. The platform currently offers trading on 19 different tokens through its Robinhood Crypto service, including Bitcoin and Bitcoin Cash.

ltc/btc ratio

Below you can see the Bitcoin SV hourly, daily, weekly and monthly price predictions. These predictions aim to give you an indication of what Bitcoin SV will be worth in one hour, today, tomorrow, over the next week and next month. The latest delisting comes just a few months after Robinhood significantly expanded the list of available cryptocurrencies. As reported by U.Today, it introduced support for Cardano in September. Previously introduced listings include meme coin Shiba Inu , Polygon , Solana , Compound and Chainlink .

Bitcoin SV (BSV) Price History

If you are searching for Bitcoin SV market forecast, analysis or price prediction, you probably want to know where the price of Bitcoin SV may go in the future. Our price predictions use various machine based algorithms to try and predict future price movements. This price prediction is aimed at answering most of your questions. In this Bitcoin SV price prediction forecast, we will process various BSV technical indicators to predict the price of Bitcoin SV. Photo by Tech Daily on UnsplashThe news that the online trading app Robinhood had ended support for Bitcoin SV sent shockwaves through the cryptocurrency market. The app, which is a favorite among retail investors, had helped to push the price of the controversial Bitcoin fork up to highs of $400 in 2021.

BSV is the only currency for which Robinhood’s delisting will have any effect as per reports. Its Robinhood Crypto service allows users to buy and sell 19 different tokens, including Bitcoin and Bitcoin Cash. Bitcoin SV price, trading at $39.25, reacted to the announcement as the cryptocurrency fell by 12% in the last 24 hours. Plunging from $44.65, the altcoin fell by almost 23% before climbing back to the current trading price. Bitcoin SV is a hard fork of Bitcoin Cash and was created by the infamous Craig Wright, who claims to be Satoshi Nakamoto, the founder of Bitcoin. Wright has positioned himself within numerous legal battles with those who have challenged his claim to the Bitcoin throne.

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They can either opt to transfer BSV over to another supported wallet that handles such tokens, or they can choose to sell it off themselves and take cash instead. Users will still be able to trade their BSV up until the listing deadline without any interruption. After that point, however, any remaining BSV will be sold off based on its market price and credited to one’s Robinhood account. Bitcoin SV’s price has been on a downward trend, as depicted by a chart with a daily time frame. It’s possible that the prevailing sentiment on the market played a role, but more investigation suggests additional elements at play.

  • As an entrepreneur in the BSV ecosystem, Henslee says that if Bittrex delists the coin, he’s going to have a significant problem.
  • An examination of the daily timeframe chart showed that the Relative Strength Index line had deviated below the neutral area.
  • Witheconomic worries ahead, firms across the board are looking to cut costs and tighten their belts, so the decision was likely based on that.
  • If you are searching for Bitcoin SV market forecast, analysis or price prediction, you probably want to know where the price of Bitcoin SV may go in the future.
  • After Bitcoin Cash’s hard fork in November 2018, Bitcoin SV was immediately added to Robinhood’s exchange.

Register an account to unlock exclusive access to a comprehensive suite of technical trading tools, including top-tier Bitcoin SV price forecasting, sophisticated BSV buy/sell indicators, and much more. On their investment this past week due to the bullish period BSV has experienced. After analyzing the technical indicators for BSV, we expect a slight correction could happen over the next few days.

bitcoin sv robinhood

On Wednesday, Robinhood said it will stop ADA accepting Bitcoin SV and delist the cryptocurrency later this month. According to the latest Robinhood announcement, as of January 25th, the exchange will no longer support Bitcoin SV trades, purchases, or transfers. After that time, any unsold BSV in customer accounts will be sold automatically, and customers’ accounts will be credited for the proceeds. According to our Bitcoin SV price prediction, the price of BSV is predicted to drop by $1.01 over the next 7 days, reaching $36.24 by March 31, 2023.

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After the cutoff, any BSV in a Robinhood cryptocurrency account will be sold at market price. Founded in 2014, Bitnation strives to provide reliable and accurate blockchain news, investing guides, market forecasts and reviews. According to our price prediction, our analysis suggests that Bitcoin SV is currently a smart investment. After analyzing the technical indicators for Bitcoin SV, we expect a slight correction could happen over the next few days and investors should wait to buy BSV. For the year 2030, BSV is expected to continue to rally towards $327.73 based on market sentiment.