Bitcoin Cash halving awaits us on Wednesday. Fork Bitcoin, which was created in 2016, will experience this phenomenon for the first time. What to expect with its price and how the cryptocurrency will continue to evolve?
Halving is scheduled to take place at 16:00 UTC. This is a very good time because China has not yet gone to sleep, the EU is preparing drinks and America is waking up. At this time, currency exchange offices are usually flooded and working at full speed.
From four in the afternoon UTC, the miners will receive 12.5 BCH instead of just 6.25 BCH. So many investors are eagerly waiting for this event because they expect a price increase due to a heavily bid reduction.
However, coronavirus could spoil their celebrations, so it is necessary to take such an important event with caution. It may appear just like Bitcoin a few months later.
The Halving of Bitcoin´s fork is especially important because it shows how likely the king of cryptocurrencies will do in a month and a half. It should have his 22nd May. That is, at a time when (hopefully) the worst, which is associated with the crisis around the new type of coronavirus, will be better.
However, there is also a black scenario. If the price does not double by Wednesday, it will be twice more profitable to mine the king of cryptocurrencies.