%{{tag.tag}} {{articledata.title}} {{moment(articledata.cdate)}} @{{articledata.company.replace(" ","")}} comment %BitcoinCash (CRYPTO: $BCH ) is rallying ahead of the upcoming halving event that is expected to take place in mid-April of this year. In the last 24 hours, Bitcoin Cash has risen as much as 13% and is currently trading at $578 U.S. Bitcoin Cash is a %Cryptocurrency that shares many similarities with %Bitcoin (CRYPTO: $BTC ). It facilitates peer-to-peer payments between individuals just like cash but in the digital sphere. Fees for sending Bitcoin Cash typically amount to less than one penny per transaction and settlement occurs instantly regardless of the physical location of the participants. Because of its role in enabling financial transactions, some analysts claim that Bitcoin Cash is closer to the vision of Bitcoin creator Satoshi Nakamoto as outlined in a 2008 white paper. Bitcoin Cash will be impacted by the upcoming halving event, which is when the amount of Bitcoin that can be mined, and the rewards received for doing so, are reduced by 50%. Currently, the block reward for Bitcoin Cash is 6.25 BCH. After the halving occurs, the reward will be reduced to 3.125 BCH. Open interest in Bitcoin Cash futures has more than doubled to $500 million U.S. over the last week, showing growing interest in the cryptocurrency. The halving event is expected to take place on or around April 20. Past halving events have resulted in a dramatic increase in the price of Bitcoin. Currently, Bitcoin is trading at $70,700 U.S., up 3% in the last 24 hours and up 60% year to date.