Bitcoin Cash Reward Reduced by Halving; BCH Price Rebounds

Bitcoin Cash, the popular cryptocurrency, recently completed its second halving, a significant event in the crypto world. The halving took place on April 4, 2024, and resulted in a reduction of miner rewards. This milestone marks an important moment for BCH’s blockchain and signals potential changes in the overall crypto market.

During the halving, miner rewards for Bitcoin Cash were reduced from 6.25 BCH to 3.125 BCH per block at block height 840,000. This is the second halving for Bitcoin Cash, with the first occurring on April 8, 2020, when rewards were cut from 12.5 BCH to 6.25 BCH.

Before the halving, Bitcoin Cash experienced a slight drop in price, falling by 9.94% to $572.21. However, it quickly recovered post-halving, reaching $635.61. In the past week, BCH has seen a surge of 17.45%, and over the last month, it has witnessed an impressive 41% increase. This stands in contrast to Bitcoin, which recently dipped below $66,000 in early April.

Now that Bitcoin Cash has completed its halving, attention turns to Bitcoin as it prepares for its fourth halving. There is great anticipation for Bitcoin to reach a new all-time high or come close to its previous peak, reflecting the positive sentiment surrounding the leading cryptocurrency.

In addition to the halving, the crypto community is also eagerly awaiting Bitcoin’s mid-May upgrade. This upgrade aims to improve the efficiency and scalability of the Bitcoin network by introducing an adaptive block size limit, which will enhance security and reduce transaction fees.

Similarly, efforts are underway to scale up Bitcoin Cash’s block size limit in line with Bitcoin’s advancements. This move seeks to enhance the efficiency of the Bitcoin Cash network and solidify its position in the market.

As the crypto market continues to evolve, these developments in Bitcoin and Bitcoin Cash hold great significance for investors and enthusiasts alike.