Bitcoin Cash’s halving drift slightly lowers the price of digital currencies and HASH levels

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While after halving Bitcoin cash registers a loss in value and a decrease in the level of Hash from your network, Bitcoin SV is experiencing a price increase of just under a day to cut rewards for the mining community.

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One of the most anticipated moments in the community of Bitcoin cash took place a few hours ago because the network is working under the new reward range for the mining community set up afterwards Halving, This set the new amount of tokens produced by each block at approximately 6.25 BCH.

As expected, the new Halve made an impact on both the price of the digital currency and the level of Hash available in the network. Therefore, in the following we examine in detail the changes in these indicators and some future prospects with regard to the development of the digital currency.

Fall in the price of Bitcoin cash after this Halve

When observing the performance of Bitcoin cash Over the past 24 hours, we’ve noticed that the price has risen significantly in the hours before Halve the network, which reflects an increase in business volume, driven mainly by investors and enthusiastic expectations of the future of the digital currency.

According to data from CoinMarketCap, The digital currency peaked at $ 277 at 6:00 a.m. (New York time). However, there was a drop of at least $ 20 within an hour, reaching $ 262 per unit.

Fall in the price of Bitcoin cash Hours before halving the network. picture of CoinMarketCap

Information that is displayed by the Block Explorer Bitcoin.com Details the Halve For Bitcoin cash It took place at 8:19 a.m. (New York time). At this point, block number 630,000 was dismantled. At that point, the price of the digital currency rebounded slightly to $ 267. However, it fell again in the hours that followed, trading at $ 263 at the time of publication.

Exact moment from Halve Bitcoin Cash. picture of Bitcoin.com

What has been seen in relation to the price of the digital currency confirms the hypothesis of some analysts who did this before Halve The digital currency would experience a slight increase in value, which would decrease as soon as these changes were made to the network. However, it is still too early to project effects in the medium or long term. It is therefore recommended to wait a few weeks to submit a more detailed analysis.

Drop level Hash

Beyond the question of price is the Halve in the network of Bitcoin cash made its impact felt on the mining community since the levels of Hash Those present on the network saw a decrease as part of this reduction in the reward range.

According to the portal Coinwarz, an hour before Halve in the network the levels of Hash They started falling at 6:00 a.m. (New York time), a trend that became much more pronounced between 7:00 a.m. and 9:00 a.m. and left the network at around 3:00 a.m. at the time of processing. 3,537 EH / s, drop of at least 0.6 EH / s in just three hours.

Reduce volume Hash from the network of BitcoinCash. picture of Coinwarz

Although this data also confirms the hypothesis put forward by various analysts, it should be noted that this decline in levels of Hash It is not as pronounced as others registered in earlier moments, so it would be useful to take the measurement in the following weeks to determine whether a causal link as such is related to it Halve.

The Halve from Bitcoin SV

On the other hand the version of Bitcoin supported by Craig Wright and the team from nChain, Bitcoin SV, also has one Halve to your network, which will take place tomorrow April 9th.

As part of this event, the digital currency registers a price of approximately USD 208 per unit at the time of publication, an increase equivalent to 10% of its value in the last 24 hours.

Some analysts and enthusiasts associate this recovery in the value of the digital currency with that Halve what will happen tomorrow. In contrast to the cases of Bitcoin y Bitcoin cash, There is some uncertainty about the fate of the digital currency due to its short trading history, as well as the controversy surrounding its development and the apparent support from Craig Wright, who is currently facing legal proceedings initiated by his relatives, former business partner Dave Kleiman.


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Articles by Angel Di Matteo / DailyBitcoin

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