As the brief upsell in Bitcoin price action gives way to a typical alt season surge, Bitcoin SV (BSV) is entering retracement following a -4% drop – leaving some dejected bag-holders asking ‘is Bitcoin SV going to zero’?
This comes following the emergence of a golden cross pattern on October 16 – which triggered bullish price moves in the aftermath of CoinTelegraph’s ETF mistake.
BSV Price Analysis: Is Bitcoin SV Going to Zero Following -4% drop?
As price action falls to the south, Bitcoin SV is currently trading at a market price of $49.44 (representing a 24-hour change of -4.09%).
The tumultuous drop has seen BSV sink back below lower support at $50, potentially opening the door to a free-fall down to the next historic support level around $43.5 if BSV bulls lose control.
This comes following rejection from upper trendline resistance at the $55-56 price level – which saw a 4-day period of testing over the weekend.
Yet, with price heading south, it appears the bullish sentiment injected into price action by the golden cross on October 16 is waning.
This is reflected in the leading hard fork’s indicators, with the RSI still substantially overheated at 63.17 and the MACD showing slowing momentum at 1.28.
Overall, BSV looks weak here, with the RSI suggesting further downside could be on the cards, and no local lower support for BSV price to gain a foothold.
To the upside, Bitcoin SV remains targeting a break above $56 (a potential +12.99%).
While to the downside, Bitcoin SV is now facing a drop to $43.5 (a possible -12.37%).
This gives BSV a risk: reward ratio of 1.05, a mediocre entry with upside potential on the short-time frame (and certainly not going to zero anytime soon!).
But, while BSV’s risk: reward remains unalluring, an emerging crypto presale is skyrocketing amid market excitement – with investors bullish on the promise of shaking up meme coin markets.
Meme Kombat Presale Surges With Bitcoin Pump – Smashing 700k Don’t Miss Out
Meet Meme Kombat, a trailblazing initiative that has seamlessly blended the memetic love of nostalgic gaming, and GambleFi, into a decentralized Web3 platform.
So, what makes Meme Kombat tick, and why should potential investors keep a keen eye on this presale?
The essence of Meme Kombat lies in its captivating arena where characters aiming to tap into deeply tribal crypto communities lock horns.
Players have the liberty to place their bets on these animated battles, predicting the outcomes and possibly reaping attractive rewards.
With a sturdy promise of Season 1 showcasing 11 distinct meme characters, there’s no shortage of action, and Season 2 is already on the horizon for December 2023.
The decentralized nature of the project, combined with the thrill of AI-driven battles, ensures that the outcomes are both transparent and unpredictable – every battle is a new experience, ensuring players stay engaged.
Delivering GameFi to Crypto Rivalries in Dramatic Fashion with Staking
The project isn’t just about excitement; it’s built on a foundation of trust – Meme Kombat’s commitment to transparency is evident through initiatives like the impending security audit of their smart contract.
The findings of this audit will soon be public, a move that many projects shy away from.
The founder and project lead, Matt Whiteman, isn’t an unknown entity in the crypto space.
His experience spanning two decades in process design, combined with his position as the COO of North Technologies, adds credibility to Meme Kombat.
When so many projects hide behind the veil of anonymity, Whiteman’s open profile and the project’s physical address in Amsterdam offer an extra layer of trustworthiness.
The tokenomics of Meme Kombat is also an appealing factor for potential investors – Stake the Meme Kombat ($MK) token, priced attractively at $1.667, and dive into a rewarding ecosystem.
With a generous APY of 112%, stakers not only benefit from passive income but can also use their staked tokens to place bets in the arena – this dual functionality – earning while gaming – sets Meme Kombat apart.
Intriguingly, engagement on the platform directly influences the income one can earn, so, the more you participate, the more you stand to gain.
With the GambleFi industry booming following coins like Rollbit, Meme Kombat seems poised to tap into this lucrative market with its innovative approach.
By merging memes, gaming, and blockchain, the platform is presenting something fresh to the crypto community.
For those looking to diversify their portfolio with a unique offering, Meme Kombat seems like an opportunity too good to miss – so, don’t be left behind (stay tuned with the MK Telegram).
Embrace the future of meme-based gaming and betting with Meme Kombat.
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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