Bitcoin Cash

Bitcoin

April

On April 4, 2024, in the early morning hours, the most awaited event took place and Bitcoin Cash completed its halving event. This signifies a halving of the reward that miners receive for verifying transactions and adding them to the blockchain. Aftermath of Bitcoin Cash halving 
However, this occurred atblock height 840,000, where the reward was reduced from 6.25 to 3.125 coins per block. Leading up to this halving, there was a significant increase in the overall computing power of the Bitcoin Cash network, known as the hashrate. This hashrate peaked on April 1, 2024, reaching 8 exahash per second (EH/s). The highest hashrate highlights increased miner participation before the halving, as they aimed to maximize rewards. 
But following this halving, the hashrate stabilized around 3.78 EH/s, indicating that some miners may have temporarily left the network post-halving. This suggests a potential decline in interest in mining.
At present, the completion of the halving is also reflected in the price of Bitcoin Cash. Currently, Bitcoin Cash (BCH) is trading near $651, having surged by 6% in just a few hours, with continuous increases despite negative market sentiment. Examining BCH’s performance over a longer period, it experienced a significant gain of over 21% in the last 7 days and a remarkable 47% upside momentum in the last 30 days. Bitcoin Cash technical analysis and key levels 
According to expert technical analysis, <a href="https://news.todayq.com/bitcoin-cash-skyrockets-16-prior-of-halving-eyes-on-677/" rel="noopener noreferrer nofollow">Bitcoin Cash</a> appears bullish and is now heading towards its all-time high. The bullish sentiment stems from its recent breakout of the major resistance zone near $487, following a consolidation period between $392 and $487. Additionally, it posted a bullish weekly candle closing above the resistance level.
However, there’s a possibility that BCH may experience a pause in its movement as it trades near its all-time high of $729, which currently acts as a resistance level. If BCH breaches this level, there’s a high probability of seeing a massive upside momentum.
Despite BCH’s impressive performance over the last 30 days, other top cryptocurrencies such as Bitcoin, Ethereum, Ripple, and others seem to be struggling during this period, and they continue to face challenges at the current time.

Bitcoin Cash maintains 7% gains post-halving

Todayq News

Other articles published on Apr 4, 2024

Trader Shares Tips On How To Trade Meme Coins: Only Buy Coins That Clear This Hurdle

SHIB, PEPE & Millionaire Dreams, Pepecoin Holders Join Gaming SHIB Rival

Google Drags Crypto Scammers to Court

Wemade signs onboarding contract with Revolve Games for Bones and Blade on WEMIX PLAY

Litecoin (LTC) Price Surges, Eyes $140 Target – What’s Fueling the Rise?

DOGE and Dogwifhat(WIF) Prices Dip as Investors Shift Focus to NFTFN Token Presale

Join our free newsletter for daily crypto updates!