You would have to calculate and consider the consequences for the flow, using the selected Cv, pressure before, pressure after the valve, flow capacity of the upstream pipeline, increased loss by increased flow etc. for each situation. If varying flow you should control minimum, normal and max flow for above.
Example: For 'normal' flow velocities for 'normal' fluids, for instance drinking water, mains are often dimensioned for a flow from say 0,3 to 1,5 m/s. This could be more or less, but from (say) 2-3 m/s you will have a 'cleaning/washing out' velocity of the mains. Obviously, if you then have a low flow velocity (0,3 m/s) you could use a suitable Cv within a larger range than if you have a normal velocity around 2m/s.
For gases (for instance steam at 15-40m/s) or other fluids( hydraulic oil, petrochemical) the velocity and consequences will be different.