After the Bitcoin Cash Halving, many predicted that at least some experienced miners would finally abandon Bitcoin Cash (BCH) and switch over to Bitcoin (BTC) as this is much more profitable and comparatively a bit easier. The rewards in mining Bitcoin Cash has reduced from 12.5 to 6.25 BCH. But, we never know the exact value as the rates are very volatile and rise and fall each day.
According to a report, the hash rate of BCH has approximately slid down by 60 percent from 4.36 EH/s to 1.6EH/s in just a 12-hour gap.
Some analyst believe that we might even witness a much further fall of the hash rate as it may halve along with the cryptocurrency.
Many analysts even observed a lag between blocks too, as one research team noticed that the time lag between blocks 630,000 and 630,001 was approximately two hours, this usually takes just ten minutes.
Bitcoin Cash Halving – Price Effect
Throughout the week, the price of Bitcoin Cash has shot up by more than 17 percent but has fallen back by 2.5 percent in the past 24 hours.
Many are even concerned about the hash rate and how it may take a hit.
This may result in many miners switching from Bitcoin Cash to Bitcoin as they can procure much better profits in BTC. We all know that Bitcoin Cash miners have proven in the past that they don’t mind losing a massive chunk of their capital to keep the price up as we have seen this in the ‘Hash war’ of 2018.
According to another report, the next Bitcoin Cash halving will take place in 2024. The Bitcoin halving is scheduled to occur somewhere in the mid of next month.
