Bitcoin Cash after halving: price increase and the future of the cryptocurrency
Bitcoin Cash Price After Block Halving
The price of Bitcoin Cash (BCH) experienced fluctuations during the recent block halving, which took place recently. Prior to the event, the price dropped to around $565, then recovered. Currently, the BCH price is around $676, marking an impressive increase of 11.3% in a single day and almost 20% over the last week.
Bitcoin Cash Block Halving
The Bitcoin Cash block halving event occurred at block 840,000 at 22:45 UTC on March 4, when the price was $574.90. It is worth noting that the BCH price rose to its highest level since November 2021, reaching $718.62 just before the halving.
Bitcoin Cash – Modified Version of Bitcoin
Bitcoin Cash is a modified version of Bitcoin, maintaining many similar characteristics. Like Bitcoin, BCH has a limited supply of 21 million coins. Following the 2024 halving, the mining reward for Bitcoin Cash was reduced from 6.25 BCH to 3.125 BCH.
Development and Controversies Surrounding Bitcoin Cash
A group of Bitcoin developers proposed Bitcoin Cash to lower transaction fees and reduce transaction times compared to the original Bitcoin. In 2018, Bitcoin Cash underwent a fork, leading to the emergence of two factions: Bitcoin Cash ABC (later rebranded as eCash) and Bitcoin Cash SV (Satoshi Vision).
Future of Bitcoin and Price Analysis
Bitcoin is also facing its own block reward reduction this month. Analyses regarding further Bitcoin price growth are divided. The Coinbase platform advises caution, noting that past performance does not always translate to future success.
The constant changes and events in the cryptocurrency market make monitoring the Bitcoin Cash price and other digital currencies incredibly interesting for investors and enthusiasts of this modern form of payment.
