On an otherwise uneventful day for crypto, there is one coin that is in positive territory: Bitcoin Cash. Don’t confuse this with Bitcoin, which is a different coin, even though they seem nominally related. Just like Bitcoin, Bitcoin Cash has a halving and it appears to be taking place on Wednesday.
When is the Bitcoin Cash halving?
The Bitcoin Cash halving will take place on Wednesday, April 3. This is a big moment for the cryptocurrency as the reward for mining new blocks is reduced by 50%. This event, which takes place every four years, has led to significant price increases in the past.
This is done to slow inflation and increase the scarcity of the currency.
The exact timing of the halving is still uncertain. The websites NiceHash and Halving Dates provide different estimates:
- NiceHash: Wednesday, April 3, 2024, 12:05 PM
- Halving Dates: Wednesday, April 3, 2024, 5:05 PM
Can the BCH price rise further?
There are several reasons why halvings can lead to price increases. After the halving there is less supply of new coins, if demand remains unchanged or even increases, this could lead to a price increase.
It is impossible to say with certainty what the impact of the halving will be on the price of Bitcoin Cash. However, given the historical data and current market conditions, it is certainly possible that the price will rise after the halving.
In addition, the halving can be seen as a signal of the health of Bitcoin Cash’s blockchain. The fact that the halving takes place successfully shows that the network is functioning properly.
Roger Ver is back
In addition to the halving, there is another factor that can influence the price of Bitcoin Cash. Recently, Roger Ver, a prominent proponent of Bitcoin Cash, published the book “Hijacking Bitcoin”. In this book, Ver criticizes the current development of Bitcoin and argues that Bitcoin Cash better represents Satoshi Nakamoto’s original vision.
It is possible that this book will lead to more attention for Bitcoin Cash and that this will benefit the price of the currency.
