CDS Crypto News Bitcoin Cash Halving Sparks Surge, Hits Highest Price Since 2021
Crypto News

Bitcoin Cash Halving Sparks Surge, Hits Highest Price Since 2021

Is the surge in Bitcoin Cash following its halving a hint at what's in store for Bitcoin's next major move?

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Bitcoin Cash Halving Sparks Surge, Hits Highest Price Since 2021

Crypto News- In a dramatic surge, Bitcoin Cash has surged by over 10% following the completion of its highly anticipated halving event. The cryptocurrency, already on a steady upward trajectory since the start of the year, has witnessed a staggering 23% surge over the past week and an impressive 43% surge in the last month alone, according to CryptoSlate.

As of the latest update, BCH is trading at $673, marking its highest price point since May 2021.

Bitcoin Cash Halving Sparks Surge, Hits Highest Price Since 2021

Market analysts attribute this remarkable spike in BCH to multiple factors, including the recent halving event and the prevailing bullish sentiment in the market.

Bitcoin Cash Halving: Bitcoin Cash, a proof-of-work blockchain network originating from the Bitcoin fork in 2017, underwent its second halving on block height 840,000, reducing miner rewards from 6.25 BCH to 3.125 BCH per block.

Ludovic Lars, a prominent Bitcoin Cash enthusiast, commented on the halving, noting a significant slowdown in the network following the event.

Post-halving, Bitcoin Unlimited data reveals that the network has confirmed 840,017 blocks, with approximately 17 blocks validated since the event.

Market Impact and Comparison to Bitcoin’s Halving

Experts speculate that BCH’s halving could foreshadow trends for Bitcoin’s impending halving event scheduled for April 20, where miner rewards will be halved from 6.25 BTC to 3.125 BTC.

Assets management giant Grayscale and Hut 8 Mining CEO Asher Genoot have underscored the profound influence this event may have on the broader crypto landscape.

As BCH’s network mining difficulty reaches its highest level since 2019 and miner rewards decrease, all eyes are now on Bitcoin as it gears up for its own halving, with anticipation building among investors and analysts alike.

Bitcoin Cash Halving Sparks Surge, Hits Highest Price Since 2021

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