Do you agree that if Bitcoin gains, that will automatically make a gain for BitcoinCash?
I saw an X (Twitter) post by an influential person saying, "Bitcoin's gain means BitcoinCash's gain."
For me, it seems a bit incorrect.
Don't forget that BitcoinCash is a hard fork of Bitcoin.
Bitcoincash is a hard fork of Bitcoin because some Bitcoin developers understood Bitoin's technology policy was incorrect.
If Bitcoin goes up, that may or may not see a rise for BitcoinCash.
A cryptocurrency's success comes from mass adoption and investment.
A cryptocurrency runs on its technology, but the investment from the masses makes it sustainable even if it falters with its technology.
That is what is happening with Bitcoin.
Bitcoin falters with fees and time of settling transactions.
Bitcoin's scaling issues are not yet solved.
Bitcoin's fee is increasing every day.
Still, people are after Bitcoin.
When will BitcoinCash rise steeply?
BitcoinCash will rise quickly when huge Bitcoin holders swap their coin holdings into Bitcoincash.
It happened just after the launch of BitcoinCash in 2017.
Most probably, a large amount of BTC was swapped to BCH, and BCH rose steeply after the launch in 2017.
This is a simple understanding (guess).
Do you think otherwise?
Please correct me.
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About me
I am a researcher and contribute to the overlapping areas of STEAM (Science, Technology, Engineering, Arts, and Mathematics). I am an active user and promoter of GNU/Linux, Free and Open Source Software. I develop cybersecurity and information security solutions, specifically graphical authentication security.
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Nov 20, 2023
