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Post Halving – Miners not interested in BCH anymore

BCH investors have taken quite a hit as they experienced BCH halving due to the outbreak of the global pandemic prompting the
BCH investors have taken quite a hit as they experienced BCH halving due to the outbreak of the global pandemic prompting them to switch over to BTC.

As the world witnessed the Bitcoin Cash halving, the investors and even the Miners have started to dump BCH and switch over to Bitcoin as it might prove to be much more profitable.

As of the 8th of April, Bitcoin cash experienced halving, which resulted in approximately fifty percent loss in the miner’s profit. The value leaped down from 12.5 to 6.25. The BCH hash rate experienced a nosedive after halving as it dropped from 3.5 EH/s to 1.4EH/s in just 24 hours.

This would give no or less profit to the Miners. On the contrary, hashrate of the Bitcoin has been on the rise, which prompted the Miners to switch over.

Bitcoin Open Interest Future is on the rise:

As of Monday, the 13th of April, the open interest future of Bitcoin is currently back on the increase after experiencing a steep dip in March.

After approximately a month after the fall, Bitcoin Futures open interest is now steadily increasing as the charts are showing a positive result, surpassing $2 Bullion volume.

On the 13th of March, the open interest fell by a whopping 40 percent in just a day. This resulted in a decrease of volume from $3.5 Billion to $2 Billion. This showed extremely bearish trends.

Currently, Bitcoin and Altcoins seem to be recovering (at the time of publication), however, major analyst are still predicting a bear run in the short term.

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