The Bitcoin Cash network's block reward officially halved at block 630,000







On April 8, 2020, the block reward of the Bitcoin Cash network halved when the 630,000 block was mined and the BCH miners would only collect 6.25 coins per future block, instead of 12.5. Halving BCH is the first major SHA256 branch to halve block rewards, as BSV and BTC will also be halving within the next 30 days. Now, the next thing after halving BCH that traders are interested in is price, hashrate and network difficulty.


BCH miner profits down from 12.5 down 6.25 coin each block


So far, about 87.6% of the 21 million BCH have been mined. There are still 2.6 million BCH and since halving after block 630,000, the release rate halved. By the time Satoshi Nakamoto created Bitcoin, the inventor had designed it in a way that it would gradually be harder to earn Bitcoin with mining, the ultimate goal being to promote scarcity and curb inflation. Present, hashrate BCH has not changed much and remained stable at 3,4-3,7 exahash per second (EH / s). BCH is trading for $ 263 at the time of writing, while the annual inflation rate has changed from 3.6% to 1.8%. Antpool has tapped halving blocks officially 630,000 and only receive 6.25 BCH when found the block.


BCH 1


Coindance's statistics shows Currently BCH mining has a 2.7% higher profit than BTC. There are at least 9 BCH miners including Antpool, Btc.com, Btc.top, Viabtc, SBI Crypto, Huobi, Pool.Bitcoin.com, Poolin and P2p Pool. The remaining 7.6% of the hashrate is contributed by anonymous miners. It requires a 302% higher cost when trading on the current BTC chain and the BTC blockchain is 124.5GB bigger than the BCH chain. Before halving, the BCH miner earned 1,800 BCH ($ 468K) per day (about 144 blocks), but now they will only receive 900 coins ($ 233K) per day plus fees. As of tonight, the BCH difficulty is about 531 billion.


bch 2


Still 63 times halving BCH


Overall, the Bitcoin Cash community has been waiting for a long halving day and many supporters have expressed excitement over the past few weeks. Of course, the Corona outbreak has made halving less prominent than in 2016. The Future of Bitcoin Cash held an online meeting today from 17:30 to 23:30 (Vietnam time) on Zoom in to discuss halving BCH.



"Please join event livestream of the BCH community April 8 from 17: 30 (Vietnam time) with us


CWe will discuss the future of BCH


Information and links online in:.."


Cryptocurrency enthusiasts will follow BCH and the three mentioned above (price, hashrate and difficulty) carefully. Price action is still volatile and hashrate, the difficulty in the next few months will change.


bch 3


1,458 days until halving BCH next and 63 times halving.


Bitcoin Cash will have 63 more halving and the network will continue to grow. The market is not perfect and anyone can guess what will happen, but the system is far superior to central banks and partial banking.


Technical analysis


BCH is the ever-controversial Bitcoin fork that has made a major breakthrough today and a great market support structure, after making the first halving.


Regarding daily BCH / BTC, a clear breakout has been completed on the indicators. The RSI trend has been well captured and we can expect that trend line to play a supporting role. Similarly for the chart, also found the perfect breakout.


bitcoin cash


BCH chart | Source: TradingView


The price here has joined the 2020 curve. We can see this line breaking down now and consolidating above it (green box) or holding and consolidating below (orange box). ). But both cases will eventually raise prices for BCH, because even the orange box scenario will form a higher bottom.


Through the weekly chart, the current price action has brought BCH above the EMAs 8 and 21. Ending the week above these levels will be a sign of a medium-term price increase.


bitcoin cash


BCH chart | Source: TradingView


The chart here looks interesting, currently on the center line after only a week below that for several months. Again, if sustained until Sunday, it will be an increase.


Finally, the 3-day BCH / USD chart shows that BCH is approaching the center of the regional market structure at around $ 300.


bitcoin cash


BCH chart | Source: TradingView


This move can really tell us where BCH is going. Because the upward trend starting in 2020 has completely collapsed, destroy the previous market structure and look like a longer-term potential downtrend. But if BCH can trade above $ 360, it will start to put serious pressure on the sustained MTF downtrend.


Overall, BCH is having a really good week, after many drops in the past 2 months. Many indicators look great, signaling a continuing uptrend, but we have to see how reality happens compared to the news.


You can see the price of BCH here.


Disclaimer: This is not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.


Minh Anh


According to AZCoin News








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