Key Points
- Bitcoin Cash (BCH) has completed its halving process, cutting the mining reward to 3.125 BCH per block.
- Spot ETF approvals may lessen the impact of the upcoming Bitcoin (BTC) halving event.
Bitcoin Cash recently underwent its halving process, leading to a reduction in the mining reward per block. This event took place in the weeks leading up to the anticipated halving of Bitcoin.
Bitcoin Cash Halving
According to data from Nice Hash, the Bitcoin Cash halving occurred on April 4th at a block height of 840,000. This event led to a decrease in the mining reward from 6.25 to 3.125 BCH per block.
BCH halvings take place approximately every four years. The previous one occurred in 2022, and the next one is expected to happen in 2028.
In the days leading up to the halving, Bitcoin Cash experienced significant price fluctuations and overall declines. However, it has seen a significant surge of 147.85% over the past three months and a 24% increase over the last month.
Upcoming Bitcoin Halving
With the BCH halving now complete, focus shifts to Bitcoin. Its halving event is due in less than 16 days.
Similar to BCH, BTC has also experienced an upward price trend in recent months. This surge has been largely driven by anticipation and the approval of its spot ETF earlier this year.
Currently, BTC is trading at around $66,290, with a slight increase of less than 1%. After the first halving in 2012, Bitcoin surged by 5,500% over the next four years.
However, the influence of the spot ETF approval may reduce the impact of the upcoming halving event on Bitcoin’s price.
