What is the impact of Bitcoin Cash halving on the BCH price?

The process of splitting Bitcoin Cash into two parts has several consequences, as a result of a disagreement about the future of the network.

Where there is a party represented by the Bitcoin Cash ABC group who want to deduct 8% of the mining profits and direct them to develop the network, and another party, the Bitcoin Node or what BCHN stands for, wants things to remain as they are and opposes the idea of BCHA.

The impact of the Bitcoin Cash split on the BCH price

Bitcoin Cash split yesterday into two forks as a result of the disagreement that we referred to, which negatively affected the BCH currency and made it lose 5% of its value, as the price of Bitcoin Cash decreased from $ 255 to $ 240, to rise again towards the level of $ 245 at the time of writing this article.

The split is not very popular with Bitcoin Cash users, especially miners who fear diminishing profits and worry that this will destroy the decentralizing spirit of society.

Many trading platforms and major cryptocurrency companies attended themselves to confront this split. Coinbase, for example, announced a temporary suspension of BCH withdrawals and deposits, in order to clarify the currency's future.

The decline in Bitcoin Cash coincided with record hikes in both Bitcoin and Ethereum.