Since the halves of Bitcoin Cash (BCH) and Bitcoin SV (BSV) do not provide an increase in demand, it looks like their halves of the block may not exist.
Despite the halves, BCH and BSV showed normal volume and strong correlation with the cryptocurrency markets in general.
Bitcoin Forks Can’t Halve Demand
With at least six cryptocurrencies preparing to cut their mining rewards in 2020, it looks like the market is only interested in cutting the next BTC in half.
Within 48 hours of this writing, Bitcoin SV (BSV) will be the latest cryptocurrency to cut block rewards in half. Despite this upcoming event, BSV has remained largely unchanged against BTC in recent weeks – it rose 11.6% on the day from 0.0258 BTC to 0.0288 BTC, which includes the first signs of demand for a halving.
The BSV event followed the halving of BCH – Bitcoin Cash posted a similarly weak gain over BTC in recent weeks, before gaining around 7% from 0.0350 BTC to 0.0375 BTC over the last day.
BCH / BTC 4-hour chart. Source: TradingView
BCH / BTC 4-hour chart.
Bitcoin Gold (BTG), a fork of BTC, will be the next cryptocurrency to be cut in half after BSV, and it will appear in the path of cutting block rewards on April 18. BTG also showed significant correlation with BTC for several weeks – prices hovered around 0.0110 BTC before a 5% rebound occurred yesterday.
Bitcoin Diamond (BCD) trading is also scheduled for August 1st.
Private coins for recycling in 2020
ZCoin (XZC) and Zcash (ZEC), privacy coins based on various white papers from the same author, will also review the first half of this year.
ZCoin will be cut in half during September, while Zcash plans to cut rewards in November.
Litecoin halves are paid out at 100% plus price increments
The period leading up to each of the previous two halves of Litecoin (LTC) has resulted in significant short-term increases in LTC prices.
In the months leading up to last year’s halving in August, LTC collected 125% from 0.0080 BTC to 0.0180 BTC before it was withdrawn at the end of September.
During 2015, as a result of a halving of pre-orders and little liquidity, LTC prices rose 450% from 0.0060 BTC in early May to 0.0334 BTC two months later.