Bitcoin and Bitcoin Cash Market Dynamics

Bitcoin (BTC) is trading above an important psychological level of $70,000, but warnings are being made that the market could retreat if it loses the $69,000 support. Meanwhile, the price of Bitcoin Cash (BCH) has recorded an increase of over 15% ahead of the block reward halving expected to take place on April 4. BTC’s Indecisive Movement In recent days, Bitcoin has been trading near the $70,000 level without experiencing major fluctuations. Investors are in an anxious wait due to the options contracts expiring on March 29. At the same time, whether Bitcoin can maintain the critical support level of $69,000 is being closely watched. Impact of BCH Halving During Bitcoin’s relatively quiet trend, Bitcoin Cash gained value with the news of the reward given to miners halving. The decreasing supply of BCH is expected to increase its value. The decrease in mining rewards could slow down new BCH production, […]

Bitcoin and Bitcoin Cash Market Dynamics

Bitcoin (BTC) is trading above an important psychological level of $70,000, but warnings are being made that the market could retreat if it loses the $69,000 support. Meanwhile, the price of Bitcoin Cash (BCH) has recorded an increase of over 15% ahead of the block reward halving expected to take place on April 4.

BTC’s Indecisive Movement

In recent days, Bitcoin has been trading near the $70,000 level without experiencing major fluctuations. Investors are in an anxious wait due to the options contracts expiring on March 29. At the same time, whether Bitcoin can maintain the critical support level of $69,000 is being closely watched.

Impact of BCH Halving

During Bitcoin’s relatively quiet trend, Bitcoin Cash gained value with the news of the reward given to miners halving. The decreasing supply of BCH is expected to increase its value. The decrease in mining rewards could slow down new BCH production, and if demand remains equal, this could theoretically cause prices to rise.

During this period, particularly with the increase in open interest rates in Bitcoin Cash futures contracts, an increased interest in BCH by investors and leveraged bets on price volatility are observed. Throughout history, block reward halvings for cryptocurrencies have generally led to price increases, and strong rallies have occurred after these events.

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