Bitcoin SV undergoes First Halving A Day After BCH

The BSV finished its first halving at around 01:30 UTC and reduced the block rewards from 12.5 BSV to 6.25 BSV.

The BSV has been halved just a few days after the halving event of BCH, which was happened on April 08, 2020. Almost a month later to BSV’s halving event, Bitcoin will be halved.

BSV Price Falls 

After the halving event, the price of BSV came down from $225 and settled at $210.87. The price of BCH also collapses from $278 to $256.21, after its halving.

Like their parent chain Bitcoin (BTC), BSV and BCH too could supply up to 21 million coins.

It is being speculated that the halving affects the price of assets in the market. It could be understood with an example, at the time of halving, the rewards are reduced to create a perception in people’s mind, that now there is a scarcity of coins in the market, which exactly is not. And as the demand for Bitcoin increases, it directly affects the price of Bitcoin, which is profitable.

Community Dispute Created New Coins

First time in the year 2017, the Bitcoin was split into two chains i.e., Bitcoin Core and Bitcoin Cash. The reason for behind this hard fork was the community dispute. Later almost after two years, Bitcoin Cash started facing disagreement among its own community which resulted in another fork and created another two chains i.e., Bitcoin Cash and Bitcoin SV.

When BCH was halved for the first time, its network experienced some changes in it and its price also started fluctuating.

A report suggests that in this first halving event, the BSV assets remains down 5.3 percent for the day.

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