Bitcoin halving takes place on the 12th of this month, so we have less than 5 days for this important event. However, it is not the first cut in half this year that Bitcoin Cash and Bitcoin SV already had. Can Bitcoin Halving Affect BCH and BSV?
The BTC Hard Fork, Bitcoin Cash, was halved on April 8 this year. The crypto that emerged from BCH’s hard fork, Bitcoin Satoshi Vision, halved two days later on April 10.
This makes Bitcoin’s Halving the third such event in two months. But without a doubt, we’re talking about the most important of all and one of the events that have the greatest impact on the overall crypto market in general.
What lessons have we learned from the other halving this year? Did the event affect BCH and BSV on BTC? Conversely, can this also happen? Can Bitcoin Halving Affect BCH and BSV?
What happened in the last two events?
As previously reported, Bitcoin Cash and BSV Halving were generated when both cryptocurrencies hit their 630,000 block. As a result, the miners’ reward for validating each block was halved.
What could be observed was that days before, altcoins miners started moving to bitcoin mining. This will reward at least 12.5 BTC for each block mined in the network, at least until Bitcoin is halved in a few days.
This exodus led to a sharp decline in the hash rate for both Bitcoin Cash and Bitcoin SV. While the hash rate in Bitcoin rose significantly as expected.
It is worth noting that this is thanks to the amazing function that both BSV and BCH have the same technology at their base as Bitcoin. Therefore, the mining hardware can be used to mine one of these three cryptocurrencies with relatively easy migration.
Back to our point: This decrease in computing power meant that both altcoins were much more susceptible to 51% attacks.
On the price page. These two events have not triggered a significant price increase for these two cryptocurrencies. Because both BCH and BSV decreased after the event. And since then they have gained lukewarm value, thanks.
Once Bitcoin is halved, all three chains work with the same block reward amount of 6.25 per block. However, there is a big difference in the dollar price of each reward.
This value would be the same at current prices::
- BTC = $ 57,500
- BCH = $ 1,500
- BSV = $ 530
Can Halving Bitcoin Affect BCH and BSV?
Almost a month has passed since these two events took place, and even the miners have not returned to their home coins. What tells us that they are using the last few days that Bitcoin pays a lot more for each validated block.
According to some experts, the migration will reverse once Bitcoin’s halving takes place. However, this will be done very slowly. At least compared to the massive migration from BCH and BSV to Bitcoin.
“There will probably be a realignment where we were before the 3 halves.”
Sonny Meraban, CEO of Bitcoin of America, commented.