Bitcoin Cash fell 20% after the halving (block reward halving) on April 4.

Bitcoin Cash, which was forked from Bitcoin in 2017 and completed its second halving in its seventh year, fell below $574 today. The cryptocurrency had risen to $720 immediately after the halving. The following days brought a sharp decline.

In addition to the decline in price, the size of the open position decreased by more than 50%. On April 5, the open position size, which was over $665 million, decreased to $330 million.

There was a similar picture for Bitcoin Cash at the halving in 2020. Cryptocurrency lost about 15% in value the week after the halving. In Bitcoin, the price of $9,200 in the halving that year saw $9,950 a week later.

There are 7 days left for Bitcoin’s 2024 halving. It is highly anticipated how the number one cryptocurrency will perform after the halving expected to take place on Saturday.