InvestorCrypto.net - Today, Bitcoin Cash surged from above $600 to a daily high of around $697, before correcting to the current price of $635.
The highest price today marks the highest price point for BCH since November 2021, although still far below the all-time high price of nearly $3,786, recorded in December 2017.
The recent surge in BCH price could be attributed to several factors.
First, anticipation surrounding the upcoming Bitcoin Cash halving, scheduled to take place in just two days, has contributed to bullish sentiment.
The halving event, which reduces block mining rewards by 50%, is expected to slow down inflation and increase coin scarcity.
Historically, such events have led to significant price increases, as evidenced by Bitcoin's (BTC) post-halving performance.
Bitcoin's halving itself is planned to occur on April 20. Both BTC and BCH have their respective halvings set at the same block height, but changes in mining algorithms have increased the mining rate of BCH, resulting in different halving dates.
BCH is currently estimated to halve on April 3, Bitcoin Satoshi Vision (BSV) on September 8, and Bitcoin Gold (BTG) on April 23.
Secondly, the cryptocurrency has returned to the spotlight after the publication of a book by Roger Ver—an OG BTC evangelist, who is now a prominent figure in the BCH space—that reignited the debate about the ethos behind Bitcoin.
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