The cryptocurrency Bitcoin Cash (BCH) had its second halving on the 4th. As a result, Bitcoin Cash's mining rewards decreased from 6.25 BCH to 3.125 BCH.
Block 840,000, where the halving occurs, was mined by the mining pool Viabtc.
According to CoinMarketCap, the price of Bitcoin Cash has exceeded $670 (approximately 102,000 yen), a 10% increase from the previous day, at the time of writing. The price at the beginning of the year was $260 (approximately 39,500 yen). Bitcoin Cash's price has risen as the halving approaches, and has recorded an increase of more than 15% in the past week. On the 1st of this month, it reached $700 (approximately 106,200 yen), the first time since November 2021.
Bitcoin Cash is a cryptocurrency that was created by splitting from Bitcoin (BTC). Like Bitcoin, a halving occurs every 210,000 blocks. The Bitcoin halving is expected to occur around the 20th of this month.
The halving is seen as a major impact on the price of crypto assets, as mining rewards are halved and supply decreases. This year will be the fourth halving for Bitcoin, and many people are hoping that this will be an opportunity to further increase the price.
On the other hand, the price of Bitcoin has risen significantly every time a halving occurs, so the rate of increase is becoming more stable year by year. In addition, considering that the market environment surrounding Bitcoin is maturing, it can be said that the impact of the halving on the price is gradually decreasing.
However, some predict that the halving will have an impact as demand for Bitcoin is increasing due to the emergence of Bitcoin spot ETFs.
Michael Saylor, co-founder and chairman of MicroStrategy, a US intelligence company known for holding a large amount of Bitcoin, said, "Bitcoin spot ETFs will be a major catalyst for a demand shock, and a supply shock will occur after the halving."
Saylor predicts that companies offering Bitcoin spot ETFs will acquire large amounts of Bitcoin from the market, and supply will not be able to keep up.
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