Despite the reduction in block rewards, Bitcoin Cash saw a notable price surge, reaching levels not seen since 2021, peaking at approximately $700.
Following the BCH halving, the network’s mining difficulty surged to its highest level since 2019, reaching 761,589.2. Concurrently, miner rewards decreased from 0.0003 to 0.00017.
Bitcoin Cash recently experienced its halving, occurring shortly before Bitcoin’s scheduled quadrennial event. Unlike Bitcoin, this halving was the second occurrence for the Bitcoin Cash (BCH) network. The reduction in block rewards to 3.125 BCH happened on Thursday, following a similar event in April 2020 when block rewards dropped to 6.25 BCH.
Following the halving, BCH saw a significant price spike, reaching levels not seen since 2021. It peaked at approximately $700 early on Friday before stabilizing around $660, marking a 10% increase over the past week. However, this price surge is notably below its all-time high of over $9,500 in 2017.
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