Bitcoin SV (BSV) Targets a Major Bull Cycle As reported in an analysis by Alan Santana on TradingView, Bitcoin SV (BSV) appears to be entering a strong bullish cycle. BSV’s previous bull market began after reaching a low in April 2019.
This market lasted 721 days with the peak ending in February 2021. According to Santana, BSV is now starting a new bullish cycle that could help set another all time high (ATH).
Santana believes that the best performing bull market for BSV occurred in 2021 in April. This market marked the ending of the bull cycle for BSV alongside entering into a streak for the BSV bear phase. During the bear phase, BSV never-ending market correction took place that led to the long term all time low (ATL) in June 2023.
The pendulum started to swing again in favor of BSV in December 2023, when major support that BSV had lost in October 2022 was reclaimed.
This support level was previously set in April 2019. This overall recovery marked the change from bearish territory and allowed BSV to have further confidence coupled with deeper corrections that set new low markers in 2024.
BSV: Positive Outlook and Prospective Value Increase
The market momentum for BSV is increasingly positive. A chart from Alan Santana’s analysis has a considerably bullish candlestick pattern with a long lower wick and a stout green body. This indicates that macro momentum is tremendously bullish.
Santana however highlights that as the cryptocurrency is poised for a very long surge, the current configuration puts BSV at a point for very explosive growth which might happen is just a few days.
Although forecasting the journey of the future bull market is speculative, Santana has a target of $800 for a new all-time high (ATH) in 2025.
This is a 12x leap from the current value, which is quite optimistic. In the best case scenario he expects the ATH to reach $1,290, this would be a 20x increase.
Currently though, BSV is trading around $54.54 which is a 4.22% correction over the last 24 hours and is around 18.00% lower than the previous 30 day mark. Still, some long predictions seem great.
