The Bitcoin Cash hard fork is one of the most anticipated events in the cryptocurrency space. While the technical details may seem complex, understanding the implications can help investors make informed decisions. This guide breaks down everything you need to know about the BCH hard fork—its causes, timeline, potential outcomes, and how it affects your holdings.
What Is a Hard Fork?
A hard fork occurs when a blockchain undergoes a major protocol upgrade that makes older versions incompatible. This split can result in two separate blockchains: one following the new rules and another maintaining the old. In some cases, like with Bitcoin Cash, this leads to the creation of a new cryptocurrency.
Hard forks are not always controversial. Some are planned upgrades designed to improve scalability or security. Others stem from disagreements within developer communities about the future direction of the network.
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1. Your Bitcoin Cash (BCH) Remains Safe
One of the biggest concerns for holders is whether they’ll lose their funds during the fork. The good news? You won’t lose your BCH. Whether stored in a personal wallet or on an exchange, your Bitcoin Cash will remain intact.
However, price volatility is expected. As market sentiment shifts around the fork, Bitcoin Cash price fluctuations are likely before and after the event.
2. Potential to Double Your Holdings
If the fork results in a new coin—such as Bitcoin SV (BCHSV)—holders may receive an equal amount of the new cryptocurrency. For example, if you own 5 BCH before the fork, you could end up with 5 BCH and 5 BCHSV afterward.
This “airdrop effect” doesn’t come automatically for everyone. Access depends on where you hold your coins and whether your provider supports both chains.
3. Don’t Assume Automatic Access to New Coins
Just because a new chain emerges doesn’t mean you’ll instantly control both assets. If you use a non-custodial wallet, ensure you have access to your private keys. Without them, you cannot claim coins on the new blockchain.
For users relying on centralized exchanges, support varies. Only platforms that explicitly back both chains will distribute new tokens.
4. Major Exchanges Supporting the Fork
Several leading platforms have confirmed support for the split:
- Binance
- Coinbase and Coinbase Pro
- Bitcoin.com
- Coindelta
These exchanges will allow users to deposit, withdraw, and trade both BCH and BCHSV post-fork. Binance, for instance, has publicly stated its readiness to handle the upgrade seamlessly.
Bitcoin.com also plans to offer continued mining, wallet, and transaction services across both networks.
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5. Historical Context: Not the First BCH Split
The 2017 Bitcoin hard fork gave rise to Bitcoin Cash itself—a response to rising fees and slow transaction speeds on the original Bitcoin network. Now, history repeats: internal disputes within the BCH community are driving another split.
While both factions agree on reducing fees and increasing throughput, their methods differ significantly.
6. Scheduled Upgrades Every Six Months
Unlike unexpected forks caused by conflict, Bitcoin Cash has adopted a model of regular hard forks every six months. These updates aim to introduce protocol improvements such as enhanced scripting capabilities and better scalability.
Planned forks help avoid chaos—but when consensus breaks down, splits become inevitable.
7. Developer Disagreement Drives This Fork
This particular hard fork stems from a deep divide between two developer groups:
- Bitcoin ABC (Adjustable Blocksize Cap) – Favored by most of the network
- nChain’s Bitcoin SV ("Satoshi’s Vision") – Advocating a return to early Bitcoin design principles
Their conflicting visions for BCH’s future led to incompatible software updates, ultimately forcing the blockchain to split.
8. Key Differences Between Bitcoin ABC and Bitcoin SV
| Feature | Bitcoin ABC | Bitcoin SV |
|---|---|---|
| Block Size | Up to 32MB | Increased to 128MB |
| Script Language | Updated with smart contract support | Reverts to original opcodes |
| Transaction Limits | Restricts script size to 100 bytes | Removes opcode limits |
| Philosophy | Modernize BCH for broader use | Restore Satoshi Nakamoto’s original vision |
As of pre-fork data, approximately 60% of nodes supported Bitcoin ABC, while 28% backed Bitcoin SV.
Craig Wright, who claims to be Satoshi Nakamoto, champions Bitcoin SV—a claim widely debated but influential in shaping community alignment.
9. Some Developers Oppose the Split
Not all developers want two competing chains. Andrew Stone proposed BUIP098, also known as Bitcoin Unlimited’s Strategy, aiming to keep BCH unified.
This approach allows miners to run compatible software under Bitcoin Unlimited, a legacy client from 2016. While noble in intent, it failed to gain widespread traction amid growing polarization.
10. Price Surge Ahead of the Fork
In the week leading up to the hard fork, Bitcoin Cash price rose by 44%, peaking near $610. Market excitement, speculative trading, and anticipation of free coins fueled this rally.
Such spikes are common before major crypto events—but they often come with sharp corrections afterward.
11. Exchange Downtime Around the Fork
To manage technical risks, major exchanges temporarily suspend BCH services:
- Binance, Coinbase, and Coindelta halted deposits and withdrawals
- Freeze windows ranged from 60 to 90 minutes before the fork
- Coinbase stopped trading at 11:00 AM EST
Users were advised to complete transactions ahead of time to avoid delays.
12. The Fork Occurred on November 15, 2018
The split took place on November 15, 2018, shortly after 11:30 AM EST. At block height 556767, the network diverged into two chains: one following Bitcoin ABC and the other adopting Bitcoin SV rules.
Despite initial uncertainty, both chains continued operating independently post-fork.
FAQ: Common Questions About the BCH Hard Fork
Q: Will I lose my BCH during the hard fork?
A: No. Your existing Bitcoin Cash remains safe regardless of where it's stored.
Q: How do I get my Bitcoin SV (BCHSV) after the fork?
A: If you held BCH on a supporting exchange like Binance or Coinbase, BCHSV was automatically credited. For private wallets, you must import your key into a SV-compatible wallet.
Q: Which version of BCH is more valuable?
A: Value depends on adoption and market demand. Initially, BCH retained higher value due to broader ecosystem support.
Q: Can I still trade BCH during the fork?
A: Trading was paused on major exchanges around the fork time but resumed once stability was confirmed.
Q: Does every hard fork create a new coin?
A: No. Some hard forks are seamless upgrades without chain splits—Monero’s regular updates are a prime example.
Q: Is holding both BCH and BCHSV risky?
A: Yes. Each chain has different development teams, security models, and market risks. Monitor both ecosystems carefully.
Final Thoughts: What’s Next for Bitcoin Cash?
The aftermath of the hard fork revealed deeper ideological divides in the crypto world. While Bitcoin ABC continued evolving BCH as a scalable peer-to-peer cash system, Bitcoin SV focused on enterprise applications and massive block sizes.
Market reactions were mixed. Though Bitcoin Cash price surged initially, long-term performance depended on real-world adoption and developer momentum.
For investors, events like these underscore the importance of staying informed—and being ready for change in the fast-moving crypto landscape.
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