Why Bitcoin Cash Is Making You Cry

“For months, BCH has been mined by pools related to Bitmain, which may be a form of altruistic mining carried out despite the lower profitability. The influence of Bitmain has further eroded the credibility of BCH, which has always had its critics.”

“Until recently, the most active trades happened between BTC and BCH in a direct exchange signifying the trust in one network or the other. But this trading profile has changed, and there are fewer direct trades between the two coins slugging it out for price dominance. Certainly, BCH trades against BTC in part, but the two are not competing for the top price level. The chief reason is the switch to Tether (USDT), an intermediary token which is giving BCH a whole different process of price discovery.”

“BCH is now fighting for transactions, and its big block solution is starting to look redundant. Transactions fluctuate, and there are some active days, but the numbers move between 50,000 and 14,000 transactions in 24 hours, competing with the levels of Litecoin (LTC). Besides, Bitcoin fees have fallen, making the network once again accessible, and Bitcoin carries three to five times as many transactions as BCH.”