Bitcoin Cash, one of the Bitcoin hard forks, experienced a halving two days ago, and the block reward on the network dropped from 12.5 BCH to 6.25 BCH. Now, another Bitcoin fork, Bitcoin Satoshi’s Vision (BSV) network was also halving, and the prize was pulled to 6.25 BSV.
The halving BCH miners that Bitcoin Cash lived two days ago affected quite a bit. When we look at the hash rate in the network, we can clearly see the effects of this. Normally, miners who started to earn half of what they earned stopped working, which led to a sharp drop in the hash rate of BCH.
It was a matter of curiosity whether something like this would happen in Bitcoin SV. According to BitInfoCharts data, there is currently no sharp drop in the hash rate of Bitcoin SV. The halving of Bitcoin SV was completed around 04:30 and 4 hours have passed.
How was the Price Affected?
The price of Bitcoin SV began to rise rapidly a few days before halving. Bitcoin SV price, which ranged between $ 170-180 a week ago, went up to $ 220 yesterday.
After halving, a gradual decrease in price started. Bitcoin SV, which first went down to $ 215 level, fell to $ 200 after remaining at this level for a while.
While the halvings of Bitcoin Cash and Bitcoin SV have been completed, Bitcoin is expected to experience a halving a few weeks from now. It is a big curiosity how exactly Bitcoin will be affected by this process.