halving at Bitcoin Cash (BCH) should take place around April 8th
What's behind the 70% rise in Bitcoin Cash (BCH) in 2020
Regardless of your experience in this market, the 70% rise in Bitcoin Cash (BCH) from the beginning of 2020 to today is impressive.
The currency, which rose by more than 140% this year, is the 4th largest cryptocurrency in circulation, with a market value of R $ 25 billion.
Despite being a fork, sent free to those who had Bitcoin at the time of the event, in 2017, the coin has its own team of developers, miners and partnerships.
Why this Bitcoin Cash performance?
The recent increase in hashrate, computational power that protects the network, together with the proximity of halving, can certainly be pointed out as fuel.
As in Bitcoin, halving is the instrument for controlling ‘inflation’, and in Bitcoin Cash (BCH) it should take place around April 8th. The expectation is for a price increase due to this reduction in the creation of new currencies.
Although this halving is the first Bitcoin Cash (BCH) independently, the history of this event in Bitcoin in 2012 and 2016 was spectacularly high.
Anyway, it is important to remember that we are talking about a different currency, with a different market dynamics.
What about the Bitcoin Cash hashrate?
Despite having a different mining algorithm than Bitcoin, the most modern mining machines (ASICs) are able to switch between them.
When there is a rise, or an expectation of price improvement, these miners quickly migrate to Bitcoin Cash (BCH).
This creates a positive cycle, as the greater the security of the network, the more investors feel comfortable buying, feeding back the demand for mining.
What is being developed?
SLP Tokens: aimed at employee loyalty and award programs within a company;
Tether on the BCH network: listing of stablecoin on the Bitcoin Cash network;
Read.cash social network: authors are paid in BCH currency;
CashShuffle, currency mixer: wallet that seeks to give users more privacy, hiding the origin of transactions.
Funding for developers
A few weeks ago, a strong debate started about a potential taxation of miners in order to support the team of programmers working on the Bitcoin Cash code and some projects considered essential.
Although there was no consensus, the team behind the Bitcoin ABC software, one of the most used on the network, said it would move forward with a 5% charge from the May 15 upgrade.
It is too early to know which side will have more support from users and miners, but it is something that should remain on the radar until then.
Regardless of your experience in this market, the 70% rise in Bitcoin Cash (BCH) from the beginning of 2020 to today is impressive.
The currency, which rose by more than 140% this year, is the 4th largest cryptocurrency in circulation, with a market value of R $ 25 billion.
Despite being a fork, sent free to those who had Bitcoin at the time of the event, in 2017, the coin has its own team of developers, miners and partnerships.
Why this Bitcoin Cash performance?
The recent increase in hashrate, computational power that protects the network, together with the proximity of halving, can certainly be pointed out as fuel.
As in Bitcoin, halving is the instrument for controlling ‘inflation’, and in Bitcoin Cash (BCH) it should take place around April 8th. The expectation is for a price increase due to this reduction in the creation of new currencies.
Although this halving is the first Bitcoin Cash (BCH) independently, the history of this event in Bitcoin in 2012 and 2016 was spectacularly high.
Anyway, it is important to remember that we are talking about a different currency, with a different market dynamics.
What about the Bitcoin Cash hashrate?
Despite having a different mining algorithm than Bitcoin, the most modern mining machines (ASICs) are able to switch between them.
When there is a rise, or an expectation of price improvement, these miners quickly migrate to Bitcoin Cash (BCH).
This creates a positive cycle, as the greater the security of the network, the more investors feel comfortable buying, feeding back the demand for mining.
What is being developed?
SLP Tokens: aimed at employee loyalty and award programs within a company;
Tether on the BCH network: listing of stablecoin on the Bitcoin Cash network;
Read.cash social network: authors are paid in BCH currency;
CashShuffle, currency mixer: wallet that seeks to give users more privacy, hiding the origin of transactions.
Funding for developers
A few weeks ago, a strong debate started about a potential taxation of miners in order to support the team of programmers working on the Bitcoin Cash code and some projects considered essential.
Although there was no consensus, the team behind the Bitcoin ABC software, one of the most used on the network, said it would move forward with a 5% charge from the May 15 upgrade.
It is too early to know which side will have more support from users and miners, but it is something that should remain on the radar until then.
Comment:
BCHUSD's halving will say a lot about BTCUSD's
Comment:
Good evening gentlemen, we are 4 days from BCH's halving, I believe that the events here will reflect on BTC's HALVING.
Trade closed: stop reached:
As nothing expected for a halving happened, I was worried about BTCUSD next month.