Coinbase Delists Bitcoin SV, What’s Next?

The news recently broke out that Coinbase advised its users to withdraw their Bitcoin SV from the platform by January 9^th, 2024.

Plenty of other crypto exchange sites have delisted BSV in recent times for various reasons – one of which is the 51% attacks in 2021.

A 51% attack is when miners get control of over half of the blockchain’s mining power, allowing them to harm the network by rejecting honest blocks over their own longer chain.

What if You Keep the Coins past January 9^th ?

Coinbase has used an official statement to further clarify the process of delisting BSV. When BSV gets liquidated, it will instantly be converted to the market value of another digital asset and only then credited to the user’s account.

However, note that you may not receive any compensation due to transaction costs and market fluctuations, so you are best advised to withdraw your BSV!

Predictions For The Price

Since the news broke out, some bearish action was seen in the BSV coin price. At the moment of writing, BSV is trading at the $49 level, after the bulls reclaimed the $47 demand zone.

The resistance level is at $55, with the 23^rd resistance finding itself at $62. If the bears can get their hands on the BSV coin, then the support can be broken, leading the 2^nd support level to $40.

In addition, the Relative Strength Index is on a downward trend as it trades near the zone of 55. Therefore, we can say that the price prediction can be bearish following the news of Coinbase, but the increased volume of 25.31% in the past day means that the bulls can take over control in the short term!

Your best choice right now will be to withdraw your BSV or convert to other crypto assets from the platform and not risk getting away with nothing.