Summary
TLDR: Bitcoin Cash experienced a price rollercoaster ahead of its recent block reward halving, dropping as low as $565 before recovering to around $676. The halving, which occurs approximately every four years, slashed miner rewards from 6.25 BCH to 3.125 BCH. Bitcoin Cash aims to offer lower fees and faster transaction times than Bitcoin, with a supply capped at 21 million coins. Bitcoin itself is set to undergo its own block reward halving later this month, with analysts divided on its impact on the price. Subscribe to Alpha Reports for exclusive insights on airdrops, NFTs, and more.
Key Points
1. The price of Bitcoin Cash experienced significant fluctuations surrounding its recent block reward halving, dropping as low as $565 before recovering.
2. Bitcoin Cash is currently trading at around $676, marking an 11.3% increase on the day and nearly 20% increase over the week, according to data from CoinGecko.
3. The block reward halving for Bitcoin Cash occurred at block 840000, reducing the reward for miners from 6.25 BCH to 3.125 BCH. This event led to a surge in the price of BCH prior to the halving, reaching its highest level since November 2021.