The Bitcoin SV network has already been halved and has led to a fall in prices

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Although the drop in prices from Bitcoin SV Analysts affirm that digital currency ecosystems generally match Halve deepened the trend and led to losses of more than 11% in the last 24 hours.

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In the morning of April 10th the Halve to the network of Bitcoin SV, Cryptocurrency supported by the team from nchain and the self-proclaimed Satoshi Nakamoto, Craig Wright, who came into being at the speed of a Hard fork (Change of code) to the network Bitcoin cash Mid November 2018.

Similar to the case of Bitcoin cash, whose Halve took place on April 8th, this cut in the reward range for the mining community of Bitcoin SV It also had an immediate impact on this type of activity, which in turn affected the price of the digital currency in the main markets.

Halve coincides with the fall in prices of Bitcoin SV

Starting from block number 630,000, the Bitcoin cash implemented a margin reduction from newly implemented BSV Intended for the mining community, commissions went from 12.5 to 6.25 BSV (Approx USD 1,187) is generated every 10 minutes.

According to the Block Explorer Blockchair.com, This block was mined at 11:00 p.m. (New York time) and gave the first reward, which was approximately 6.25 BSV.

Exact moment from Halve from Bitcoin SV. Image taken from Blockchainr.com

The timing of the creation of this new block coincides with the fall in the price of the digital currency CoinMarketCap, since it was quoted at around USD $ 214 per unit and its price will drop to around USD 191 over the next four hours.

Fall in the price of Bitcoin SV after this Halve. Image taken from CoinMarketCap

Although it is not possible to show an exact causal link just because over the same period the decline in the digital currency ecosystem generally occurred on April 10, one aspect highlighted by several analysts is the extent of this decline compared to other cryptocurrencies, what to one of the most pronounced of the day at the time of editing.

Possible drop in level Hash

Another hypothesis put forward by various analysts before the scenario of a Halve For Bitcoin SV It has to do with the possible decline in levels of Hash of the network as a result of the reduction in the profit margin, which would affect the profitability derived from this activity.

In this regard, the data reflect Bitinfocharts.com Describe the expected behavior for this indicator hours before halving, since at that point the volume of processing power increased to around 3 EH / s. after a little over 2.5 EH / s.

Increased values ​​of Hash in front Halve from Bitcoin SV. Image taken from Bitinfocharts.com

Despite the fact that there are currently no concrete data that show a possible decline in HASH values ​​due to the soon to be measured values, the information is reflected in Blockchair.com highlights a decrease in the level of difficulty in the network in the following hours Halve. It should be noted that both indicators tend to correlate positively, so a decline in the latter is evidence of the loss of processing power in the EU Blockchain the digital currency.

Difficulty level from Bitcoin SV after this Halve. Image taken from Blockchair.com

Consequences for Bitcoin SV

In contrast to the cases of Bitcoin cash y Bitcoin, Many enthusiasts and analysts do not make predictions about the future of Bitcoin SV in the medium term. Due to the fact that there is talk of a currency with very little trading history, the introduction and operation of which is plagued by many controversies, it is difficult to hypothesize about its fate in the coming months, especially given the existing uncertainty in the main markets due to the effects from COVID-19.

In order to be able to carry out more precise measurements, it is therefore useful to wait a few weeks and see how the digital currency develops in the midst of this panorama. It is important to look at it differently Bitcoin, Bitcoin Cash and Bitcoin SV They plan to improve the functionality of their networks Blockchain by implementing smart contracts that would make them much more functional for many other use cases.


Related articles:

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

Bitcoin, Ether and Crypto fell on April 10, while the stock market rose slightly

Everything you need to know about halving Bitcoin is scheduled for May 13, 2020

Articles by Angel Di Matteo / DailyBitcoin

Image created with Canva

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