After the event, BCH rose to as high as $660 per CoinMarketCap. This price surge, however, still left BCH trading 84% below its $4,355 all-time high from 2017.
The new block reward for the BTC fork is now fixed at 3.125 BCH until 2028. Historically, volatility has influenced BTC and the wider crypto market before halving events.
This trend continued, with the asset retracting as much as 14% within 24 hours early last month. Bitcoin’s value declined 20% before its 2020 halving and over 38% in 2016.
Corey Wilton, Mirai Labs Co-Founder and CEO, expressed his opinion that the market may experience different outcomes post-halving compared to previous cycles. He speculated that while volatility has been seen in the months before halving events, post-halving volatility may occur as institutional investors analyze the impacts of halving and its long-term effects.
