Bitcoin Cash, the largest Bitcoin fork, completed its halving earlier this Thursday, according to data provided by BTC.com.
The controversial fork was launched in August 2017 and increased the block size to 32 megabytes, which was thought to improve the efficiency of payments.
The Bitcoin Cash fork was an early success, with the price peaking at $3,324 in late December 2017.
However, the hype surrounding the fork quickly dissipated due to low adoption rates and infighting.
At the moment, Bitcoin Cash ranks 14th in terms of market capitalization and is currently valued at $12.5 billion.
Despite the significant price increase, the Bitcoin fork is still down more than 83% from its current high reached more than six years ago. For comparison, Bitcoin is currently trading just above the $66,000 level after peaking at $73,737 on March 14th.
Roger Ver, the most famous proponent of Bitcoin Cash, is largely unknown. But he hasn't given up on his cause. He recently co-authored a new book called Hijacking Bitcoin, which aims to deconstruct the dominant narrative surrounding cryptocurrencies.
main event
Meanwhile, the Bitcoin halving is expected to occur in just 16 days from now. The block subsidy will be reduced to just 3.125 BTC, further increasing the pressure on miners.
As reported by U.Today, Bitwise CEO Hunter Horsley recently said that this will be Bitcoin's most impactful halving event to date, as the supply will be drastically reduced in dollar terms. I predicted it would be deafening.
Some analysts predict that Bitcoin price could test the $80,000 level ahead of the upcoming halving event.
