Bitcoin Cash (BCH) will complete its block reward halving over the next 24 hours, with Bitcoin Satoshi’s Vision (SV) following shortly after. One of Bitcoin’s most controversial forks, Bitcoin Cash, will halve in approximately 16 hours as of press time, cutting its block reward from 12.5 BCH down to 6.25. Bitcoin forks follow the original coin’s lead The result of community disputes, Bitcoin’s chain split in 2017, forming two assets — BTC and BCH. Consequently, BCH comes with the same maximum coin supply and mining reward payout as its parent, BTC. After the halving, the BCH network will pay miners …

Data from CoinMetrics shows that roughly one-third of the circulating supply of Bitcoin Cash (BCH) has never been touched. Coinmetrics also estimates that 2.3 million Bitcoins (BTC) have not moved in over five years — comprising 12.5% of the nearly 18.4 million BTC in circulation. 32.6% of circulating BCH supply has never moved On April 6, Coinmetrics published data indicating that 6 million BCH has not moved since the blockchain forked off from Bitcoin on Aug.1, 2017. With nearly 18.4 million BCH in circulation, 32.6% of existing coins are either lost or being held for the long-term. 2.3 million Bitcoins …

During a crisis, the first thing panic-stricken investors do is to sell almost every asset class they perceive is likely to go down. However, after the panic settles down, the bottom fishers step in and start buying the assets that show value. We have seen both of these phases play out for cryptocurrencies. The sharp selloff on March 12 was a good example of panic and the sharp correction was quickly followed by a phase of cherry-picking by long-term investors. Since bottoming out on March 13, most major cryptocurrencies have rebounded and continue to press higher. After the selling ends, …

Bitcoin.com executive chairman Roger Ver has brushed aside assertions that his website laid off 50% of its workforce, labeling the claims “more Bcash FUD.” Several cryptocurrency news outlets reported the layoff news after a post appeared on Candor, a site that purports to list jobs lost in response to the coronavirus. Problems with Candor’s methods However, Candor’s list is entirely user-generated, meaning anyone can list job layoff statistics from companies they have nothing to do with. Judging by Ver’s recent posts on the r/btc subreddit (which he also moderates), that appears to have been the case regarding Bitcoin.com. When asked …

On April 2 the U.S. Labor Department reported that the U.S. weekly jobless claims skyrocketed to 6.6 million. In the previous week, the claims stood at 3.3 million, meaning over the past two weeks the number of laid off American workers seeking unemployment benefits has reached 10 million. If the numbers continue to grow, the government and Federal Reserve is likely to announce another round of stimulus measures. All the money printing is likely to erode the value of the US dollar. In such a case, the investors will search for assets that can protect their buying power and add …

Ethereum co-founder Vitalik Buterin was involved in a spat with a Bitcoin developer on Twitter yesterday, when he suggested BTC was originally designed to be P2P cash, not digital gold. Replying to Blockstream employee Zack Voell who claimed that Bitcoin was, is, and always shall be digital gold, Buterin pointed out the narrative had changed since 2011: “I joined Bitcoin land in 2011 and back then I remember a clear vibe that Bitcoin was P2P cash first and gold second.” Source: Twitter: Vitalik Buterin, Zack Voell Buterin’s view that Bitcoin was originally intended to be peer-to-peer electronic cash is one …

The Dow Jones Industrial Average had its worst first quarter on record. Compared to that, Bitcoin only fell about 10% over the same period, which shows clear outperformance. The resilience of Bitcoin (BTC) in the current crisis shows that it has arrived on the big scene and that it can weather a storm better than some of the traditional asset classes. This is likely to attract several institutional players to Bitcoin. Now, what can we hope for during the second quarter? Bitcoin has a very important halving event coming up next month. This has been positive for the price action …

Bitcoin (BTC) miners will continue to capitulate due to low prices, but upcoming events for Bitcoin Cash (BCH) and Bitcoin SV (BSV) will fuel the turmoil, says a new forecast. In the latest edition of its State of the Network reports on March 31, Coin Metrics argued that Bitcoin was in a spiral of miner capitulation. This, it said, would get worse before it got better. Coin Metrics expects “pattern of capitulation” Despite BTC/USD recovering over 70% in two weeks since hitting lows of $3,700, prices are still “almost certainly declined below the breakeven price” for less efficient miners. This …

BitMEX Research recently pointed out that the correlation between the S&P 500 and Bitcoin (BTC) has reached a new high, eclipsing the previous high recorded in March 2018. This shows that with all the money being printed to support the economy, a tiny bit might be finding its way into the crypto space, which is a huge positive. Over the long-term, only a fraction of the total stimulus packages announced around the world are enough to boost the crypto market capitalization. While many are bullish in the long-term, several investors want to catch the bottom. Earlier in the year veteran …

Roger Ver, the prominent Bitcoin Cash (BCH) advocate and former CEO of Bitcoin.com, appears to think that the world’s reaction to the COVID-19 pandemic is disproportionate. In a tweet published on March 29, Ver tweeted a screenshot of statistics ostensibly comparing the global COVID-19 death toll with that of other illnesses — including seasonal flu, malaria and traffic fatalities — between Jan. 1 and March 25, 2020. The screenshot was accompanied by Ver’s remark that “if YOU are worried about the coronavirus, YOU should self isolate. Leave the rest of us alone.” Ver notably did not disclose the source of …

The coronavirus pandemic and the economic crisis that it has brought along is the first of its kind in this generation. For weeks now, global equities markets have been swinging wildly due to the uncertainty. However, compared to the traditional markets, Bitcoin has been holding up quite well and its volatility has been gradually reducing in the past few days. Pantera Capital Founder and CEO Dan Morehead believes that the current crisis “is like no other” and it can “have a larger global economic impact than any downturn in recent memory.” However, Morehead believes that after the initial days of …

The trustee for the defunct Mt. Gox cryptocurrency exchange has drafted a rehabilitation plan for creditors. The plan will see claims for fiat currencies, Bitcoin (BTC), and Bitcoin Cash (BCH) honored in their requested form, while all other crypto assets “will be liquidated into cash to the extent possible." Mt. Gox trustee to liquidate all crypto excluding BTC and BCH Funds will be allocated toward the rehabilitation proceedings first, with creditors receiving funds thereafter. Priority payments will be made to secure the interests of fiat currency claims, followed by small sum payments of up to approximately $1,800, and then prorated …