With its price rising to $496 on March 25, Bitcoin Cash (BCH) has drawn attention due to its remarkable 44% growth in just five days. This increase coincides with the run-up to April 4, the date of Bitcoin Cash’s third halving event, which has historically been associated with market turbulence.
Future Changes in the Market
With the event’s traditional halving of mining block rewards and its effects on market supply and pricing behavior, the Bitcoin Cash community is becoming excited as the halving approaches.

However, there may be obstacles to this optimistic momentum inside the Bitcoin Cash ecosystem. Throughout 2024, miners have been seen selling almost 1.5 million BCH, taking advantage of the increase to maximize gains.
With the miner reserves at their lowest point since 2018, this planned liquidation has placed a shadow on the rally as the halving approaches.
Forecasts in the Face of Mining Activity
This significant miner sell-off has sparked discussions about a potential price adjustment; some market observers anticipate a decline below the $400 threshold before the halving. However, a significant number of BCH investors who bought up to $411 may act as a buffer against a sharp decline, supporting a strong support level around $400.

Roger Ver’s Stance on BCH
Amidst these market conditions, Roger Ver, a former proponent of Bitcoin and now a proponent of Bitcoin Cash, reiterates his commitment to BCH.
Author of “Hijacking Bitcoin: The Hidden History of BTC,” Ver has turned down invitations to rejoin the Bitcoin community, criticizing some of the platform’s changes as departing from Satoshi Nakamoto’s original intent.
He is unwavering in his belief that Bitcoin Cash is the realisation of Nakamoto’s double vision of digital cash and digital gold.
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Bitcoin Cash (BCH), like its predecessors Bitcoin (BTC) and Litecoin (LTC), undergoes a halving event every four years, or after 210,000 blocks have been added to its blockchain. This halving slashes the miners’ rewards by half, a pivotal moment in the cryptocurrency’s economy designed to control inflation and enhance scarcity.
The BCH blockchain recorded its inaugural halving in April 2020, an event that followed the addition of 630,000 blocks. The forthcoming halving is scheduled for 2024 when the blockchain hits 840,000 blocks. Given Bitcoin Cash’s predictable supply schedule, it’s feasible to forecast the creation rate of BCH accurately for any given day, month, or year.
Originating from a 2017 hard fork from Bitcoin, Bitcoin Cash inherited many of Bitcoin’s traits, including its halving schedule. Presently, BCH miners are rewarded with 6.25 BCH per block, a figure set to halve to 3.125 BCH in the next halving.
The halving event typically leads to increased discussions about cryptocurrency scarcity, potentially pushing the price upwards if demand remains constant. However, the crypto market is relatively nascent, with limited historical data to predict future movements accurately, especially for a relatively new entity like BCH, which has only experienced one halving.
Historically, the lone BCH halving in April 2020 led to an immediate price drop, attributed to the “buy the rumor, sell the news” strategy employed by traders. Approximately six weeks post-halving, BCH’s value decreased by 14%, maintaining that price level for about six months.
Looking Ahead
As the 2024 halving approaches, investors and market analysts closely watch for signs of how reduced miner rewards might affect BCH’s value and its mining community’s sustainability. Given the precedent set by the previous halving, the BCH community remains cautiously optimistic, aware of the potential for short-term volatility but hopeful for long-term gains.

Bitcoin Cash (BCH-USD) is currently priced at $402.05, experiencing a decrease of 1.50% as of the latest update. The cryptocurrency has had a fluctuating journey, with its price moving within a day’s range of $371.08 to $402.05. Over the past 52 weeks, Bitcoin Cash has through a broader price range from $95.78 to $525.25.

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$BCH Technical analysis 🥀
The price of BCH/USDT is currently trading around $274.00, which is just below its 25-day moving average of $270.63. This suggests that there is some short-term bearish pressure on the price. However, the price is also above its 9-day and 20-day moving averages, which suggests that there is some longer-term bullish sentiment.
The MACD indicator is currently negative, but it is starting to turn upwards. This suggests that the bearish momentum may be weakening. The RSI indicator is currently at 51, which is near the middle of its range. This suggests that the market is neither overbought nor oversold.
🎃Overall economic conditions☕
The global economy is currently facing a number of challenges, including rising inflation, interest rate hikes, and the ongoing war in Ukraine. These factors could all have a negative impact on the price of Bitcoin and other cryptocurrencies.
Overall, the future movement of BCH/USDT is uncertain. The technical indicators are mixed, and the overall economic conditions are challenging. However, there are also some positive factors for the crypto market. Ultimately, the direction of the price will depend on a number of factors, including the overall risk appetite of investors and the news flow surrounding Bitcoin and other cryptocurrencies. It is important to remember that this is not financial advice and you should always do your own research before making any investment decisions.
💰Here are some additional things to consider💵
The strength of the overall cryptocurrency market. If Bitcoin and other major cryptocurrencies are rising in price, then BCH/USDT is likely to rise as well. The news flow surrounding BCH. If there is positive news about BCH, such as a new partnership or adoption by a major company, then the price is likely to rise.
The regulatory environment for cryptocurrencies. If there is negative regulatory news, then the price of BCH/USDT could fall.
I hope this analysis is helpful. Please let me know if you have any other questions.😊💰
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