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Bitcoin (BTC) Halving Not To Repeat Bitcoin Cash (BCH) Pattern: Trader Mati Greenspan

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Mon, 13/04/2020 - 11:11
Bitcoin (BTC) Halving Not To Repeat Bitcoin Cash (BCH) Pattern: Trader Mati Greenspan
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Trader and analyst Mati Greenspan, founder of Quantum Economics think tank, believes that the Bitcoin (BTC), Bitcoin Cash (BCH) and Bitcoin SV (BSV) halvings are events from different leagues.

Embodiment of scarcity

Mr. Greenspan was asked about whether we should wait for the crypto king to repeat Bitcoin Cash (BCH) price movements after its long-awaited third halving event of May, 2020. The seasoned trader sees these two events as 'diametrically different'.

According to him, the Bitcoin Cash (BCH) halving has nothing in common with the tokenomic sense of halving ('quantitative hardening'). Thus, only the Bitcoin (BTC) halving is 'real' as it will bootstrap scarcity of the digital asset which may, in turn, catapult its price.

No life beyond halving?

The first halving of the popular Bitcoin core forks, Bitcoin Cash (BCH) and Bitcoin Satoshi Vision (BSV) heavily affected the statements of their mining processes. As previously reported by U.Today, the Bitcoin Cash (BCH) block speed tanked 83% after the halving and the likelihood of a 51% attack increased drastically as the cost a hacker would have to pay to successfully complete such a hack dropped to an unbelievable $7,550 per hour.

Related
Bitcoin Cash (BCH) Network Speed Tanks, Cost of 51% Attack Drops to Dangerous Level

Bitcoin SV (BSV) miners moved their capacity to the Bitcoin (BTC) network due to risks of unprofitability. As a result, both BCH and BSV hash-rates crashed below 1 EH/s. For average holders, it resulted in a very slow transaction confirmation speed as well as an alarming level of unintended chain split.

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