Bitcoin Cash halved today
Today, Bitcoin Cash (BCH), the fifth largest crypto asset in the world by market cap, has been halved and will have market effects. His mining rewards were cut in half. Keep in mind that the third halving of Bitcoin (BTC) will take place in just over a month.
Halving is often encouraging because it has essentially reduced supply and historically has led to increased demand and higher prices. However, given the COVID-19 pandemic that is devastating the global economy, things are currently anything but normal.
The fifth largest crypto asset by market cap will be halved today, Wednesday April 8. The Bitcoin network looks much healthier as Halving approaches. BTC’s prices and chain metrics improve in less than 36 days.
Bitcoin Cash grows 2.84%
While the crypto ecosystem is waiting for what can happen to the price of BTC due to the effects of the May cut in half, Bitcoin Cash’s rewards will be cut on Wednesday day.
Bitcoin Cash (BCH) price rose 2.39% over the past 24 hours, reaching $ 264.87 at the time of publication, according to CoinMarketCap.
The BCH / BTC ratio is also increasing, reaching its highest level since March 7th. Therefore, the halving is likely to affect the relationship between supply and demand in Roger Ver’s cryptocurrency.
Compared to other forks, Bitcoin SV (BSV) will also halve this week. The cryptocurrency is currently performing even better than BCH as it has risen 13% in the last 24 hours.
Ben Askren changes his name on Twitter and promotes Bitcoin Halving
While Bitcoin (BTC) is preparing for the third halving next month, at least one prominent personality in the sports world is making its contribution to promoting the event.
Ben Askren, a former Ultimate Fighting Championship (UFC) fighter and well-known Bitcoin bull, has changed the name on his Twitter account to “Bitcoin Halving May 13”. Noting that Askren has more than 311,000 followers.
The name and date refer to the official halving event that takes place in just over 36 days. When the total number of blocks in the BTC network reaches 630,000, the block reward is reduced from 12.5 BTC to 6.25 BTC.
What can you expect after this event?
As we know, the crypto industry is moving on and Bitcoin Halving is getting closer. As mentioned earlier, Bitcoin Cash (BCH) will have its own cut in half, and you can see a real example of what an impact could be after such an event.
One fact that is clear is that the cryptocurrency miner industry will experience some changes after this halving, especially that of BCH.