Even though half the BTC is believed to be a decisive bullish event for the price, there seems to be a different story to Bitcoin Cash.
The failure of Bitcoin Cash to react to the event has caused some people to question whether cryptocurrency has an active user base, or even active traders.
A report from the LongHash cryptocurrency data news site indicates that in the wake of its first official halving, BCH will "take a security hit." The decline in block rewards, LongHash wrote, "should lead to a decline in security because of the decreased value of the block reward lowers the incentive for miners to use their hashing power to secure the network."
A report from the LongHash cryptocurrency data news site shows that after the first halving takes place, BCH will "take a security blow." A decrease in block values, LongHash writes, "should lead to a decrease in security because a decrease in the value of the prize blocks decreases the incentive for miners to use their hashing power to secure the network."
It seems like this happened. Since halving in the 630,000 block, not a single Bitcoin Cash block has been mined, indicating the miners have turned off their machines in response to a decline in the prize block.
Importantly, however, adjustments to mining difficulties must occur immediately that can revive the security and speed of the Bitcoin Cash network.