Bitcoin Cash, a popular fork of Bitcoin, recently underwent its halving, reducing mining rewards by 50%, similar to Bitcoin's upcoming quadrennial change later this month. In just 24 hours after the halving, Bitcoin Cash saw a 10% price increase, reaching as high as $660 per CoinMarketCap. Despite this surge, it still trades significantly below its peak value of $4,355 from 2017.

Just like Bitcoin's halving, the block reward for Bitcoin Cash is now capped at 3.125 BCH until 2028, limiting the introduction of new tokens into circulation.

The volatility in the cryptocurrency market before halving events is well-documented, and with institutional and retail interest growing, there are expectations for the post-halving period to bring about different outcomes compared to previous cycles. Corey Wilton, the co-founder and CEO of Mirai Labs, believes that the reaction from institutional investors could lead to unforeseen disruptions in the market dynamics post-halving.

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Bitcoin Cash chart | Source: CoinMarketCap

Bitcoin chart | Source: TradingView