Bitcoin Cash has witnessed a rally in the past week, reaching its highest level since 2021 as it approaches the $700 mark.
With the recent halving reducing scarcity and bullish sentiments rising, this has been viewed as a precursor for the upcoming Bitcoin halving.
The highly anticipated Bitcoin Cash halving has successfully taken place this week. As confirmed by the Bitcoin Cash developers and community, this event has led to the block reward from 6.25 to 3.125 BCH. This bolsters the altcoin’s price as it reduces the amount of coins in circulation, potentially driving prices up.
Following the halving, BCH has rallied by nearly 8% and is exchanging for $670 at the time of writing. In the past 24 hours, the little brother to Bitcoin has added around 5% as the BCH community celebrates this achievement. Data from the last 30 days shows that the coin has seen an upsurge of more than 40%.
According to OKLink data, BCH’s network mining difficulty has reached its highest level since 2019

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