The Bitcoin Cash (BCH) halving took place at the start of the week. BCH price, hashrate, future prospects… We take stock of what happened for the fork of Bitcoin (BTC).
The Bitcoin Cash halving took place as planned
Since April 4, the Bitcoin Cash network saw mining rewards halved. These went from 12.5 BCH to 6.25 BCH. Just like Bitcoin, the mechanism aims to control inflation. At the current price, 6.25 BCH corresponds to approximately $3,880.
👉 To go further – What is Bitcoin Cash (BCH)? This cryptocurrency that claims the throne of Bitcoin
Without surprise, the network hashrate, that is to say the computing power of Bitcoin Cash miners, has fallen sharply. It was divided by 4 immediately after the halving, while certain actors left the network:
Bitcoin Cash hashrate progression over one month
If the transition was carried out smoothly, we could note a big slowdown during the halving of Bitcoin Cash. Just like during the last halving, block production has slowed down well beyond the usual 10 minutesbefore the difficulty adjustment mechanism operates.
Since then, however, the Bitcoin Cash network has been operating normally. The hashrate continues to be lower. We also note that some BCH miners have chosen to transition their activity to mine BTCwhile Bitcoin is awaiting its own halving.
Buy cryptos on eToroThe price of BCH has been hesitant since the halving
The BCH price had strongly benefited from the anticipation of the halving, and the rather favorable context in the ecosystem. Bitcoin Cash thus gained 208% in the space of 2 months :
The evolution of the price of Bitcoin Cash over the last two months
But since April 4, the price of BCH has been more hesitant. The trend has been rather bearish: in the space of a week, the cryptocurrency fell by 10%.
However, we recall that the effects of a halving on the price tend to be seen over the following months, and not over such a short time frame. It will therefore be interesting to see if BCH will follow the example of its big brother BTC, appreciating strongly following the reduction in mining rewards.
👉 Also in the news – Halving Bitcoin (BTC) of 2024: 5 key figures to understand everything about this change
As a reminder, the price of BCH had increased significantly after its halving in 2020reaching a peak at $1,640 in May 2021. But it still remained far from its absolute record of 2017, where its price exceeded $3,780.
Join the Cryptoast community on DiscordSource: CoinWarz, TradingView
Newsletter 🍞
Receive a summary of crypto news every Monday by email 👌
What you need to know about affiliate links. This page may feature investment-related assets, products or services. Some links in this article may be affiliated. This means that if you buy a product or register on a site from this article, our partner pays us a commission. This allows us to continue to offer you original and useful content. There is no harm to you and you can even get a bonus using our links.
Investments in cryptocurrencies are risky. Cryptoast is not responsible for the quality of the products or services presented on this page and cannot be held responsible, directly or indirectly, for any damage or loss caused following the use of a good or service highlighted in this article. Investments related to crypto-assets are risky by nature, readers should do their own research before taking any action and only invest within the limits of their financial capabilities. This article does not constitute investment advice.
AMF recommendations. There is no guaranteed high return, a product with high return potential involves high risk. This risk-taking must be in line with your project, your investment horizon and your capacity to lose part of this savings. Do not invest if you are not prepared to lose all or part of your capital.
To go further, read our Financial Situation, Media Transparency and Legal Notices pages.
Journalist at Cryptoast, I have been immersed in cryptocurrencies since 2017. I am passionate about the issues of decentralization, privacy, and the global impact of these new technologies.
Marine Debelloir
2911 items
Author Bio
A connoisseur of the digital marketplace and a master of the written word, this 30-year-old English expert brings to the table a wealth of knowledge rooted in the sale of digital products and a passion for blogging that resonates with an audience seeking expertise and insight in the online realm.
Their insights are drawn from hands-on experience navigating the intricacies of e-commerce and content creation—leading the forefront of digital innovation and communication. Whether it’s breaking down complex marketing strategies or sharing tips on how to captivate an online audience, their work stands as a testament to a career built upon successful digital engagement and savvy business acumen.
Stay tuned to absorb compelling content from a voice that not only understands the digital landscape but also shapes its future through every blog post and digital strategy.
