Bitcoin Cash (BCH) has surged by more than 37% in the past seven days ahead of its upcoming halving event.

BCH, a Bitcoin hard fork that spun off from BTC in 2017, is trading at $573.39, up from $418.46 one week ago.

Bitcoin Cash’s halving date is currently slated for April 3rd, according to the hash rate marketplace NiceHash. BCH’s halvings occur every four years, at intervals of 210,000 blocks, and on April 3rd, Bitcoin Cash’s current block reward of 6.25 BCH will be slashed to 3.125 BCH.

The 15th-ranked crypto asset by market cap is also up more than 6% in the past 24 hours.

Bitcoin’s own halving is currently projected to happen on April 19th.

The pseudonymous crypto analyst known as Rekt Capital tells his 438,600 followers on the social media platform X that BCH, Dogecoin (DOGE) and Litecoin (LTC) have all either broken their multi-year macro downtrends or are in the process of doing so.

DOGE, the top memecoin by market cap, is trading at $0.219 at time of writing. The 9th-ranked crypto asset is up nearly 17% in the past 24 hours and nearly 44% in the past week.

LTC, a peer-to-peer payments network, is trading at $94.31 at time of writing. The 23rd-ranked crypto asset by market cap is up nearly 9% in the past seven days.

Generated Image: Midjourney

The post Bitcoin Cash (BCH) Surges by 37% in One Week Ahead of Upcoming Halving Event in Early April appeared first on Crypto News Australia.

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Filed under: Bitcoin - @ March 30, 2024 12:22 am