Bitcoin Cash has been following the Bitcoin Core price in dollar terms, but against BTC pairs, it has been losing ground. The charts don't lie. Bitcoin Cash is losing its money or purchasing power against Bitcoin. The CoinMarketCap also shows that because BCH has gone from being on the first ten coins to position twenty-two, that is indeed a downtrend.
You may think that Bitcoin Cash is a better version of Bitcoin, but if the price doesn't reflect that, well, it is not. Bitcoin Cash doesn't remember that is better money is just doing what other fiat currencies do against Bitcoin. They all fall in satoshis terms. Probably this is the result of market manipulation by either big players or exchanges. Still, the truth can't be denied at this point, Bitcoin Cash is losing against Bitcoin, and as a direct result, it is also going down in the CMC rankings.
If Bitcoin Cash is dropping in price against Bitcoin, that means you would have been better off just holding Bitcoin BTC from the get-go. That is the result when an altcoin loses value against the BTC pairs. But Bitcoin is not all roses. It also has its issues not only in price but in functionality as well.
Bitcoin transaction fees at the moment are cheap. Still, at any moment, they can get expensive and probably hit again $20 for the transaction even when SegWit is more popular now last time fees reach $20.00 if you have a Lightning Network channel, you will need to have at least 0.001 if not more to cover for the closing channel fee or commit fee to have the privilege to own your keys when it comes to LN.
As I have proved before, I could afford my channel, but if my neighbors can't afford his channel, that neighbor makes my security weaker because the chain is only as strong as its weakest link. I can be able to afford my channel and custody my private keys, I know that no third party will be printing or giving me fake Bitcoin, but if my fellow human being that lives in El Salvador can't, then indirectly, my Bitcoin sitting on my channel are not safe from money printing by third parties.
Many people worldwide will be forced to use custodians because they won't be able to afford the on-chain fees. Second, they don't have the hardware or internet connection to be online all the time, not to mention the technical know-how. Even when wallets like Simple bitcoin Wallet are making progress, custodians are more prevalent in this game phase.
Bitcoin has its issues, but so far, people have put up with all of that, and the price is pumping like never before, and now a whole country is accepting Bitcoin as a legal currency even if they have to use custodians for it. The market doesn't seem to care if that country is using custodians or the real deal. In the meantime, Bitcoin Cash is losing ground on CMC and losing purchasing power against BTC pair. And SmartBCH is just producing outright securities, scams, pump, and dumps, making the creator rich, and many memes. Hopefully, developers on the SmartBCH camp will soon develop actual projects with a mission and purpose that may help the entire BCH market get back to previous CMC rakings.
To mitigate all of the negative things I have said in this article, the reader will have to do their research and take action on their own money and find solutions that may help mitigate and prosper even when the odds are against the whole Bitcoin Cash market. It is not enough to hold Bitcoin Cash, thinking that it will be the future. The entire community must find newcomers, and those already here must work together to make the project more appealing to other investors.
And if holding BCH is not enough, I would say that people should learn to trade to hedge their holding on either Bitcoin Cash, USD, Bitcoin, or any other asset. Many users in the BCH community hold other coins and tokens, so it will be okay for people to realize that BCH is the idea of peer to peer currency, but from time to time, it will be beneficial to take some coins from the whales by learning to trade and make strategic trades to throw a wrench to the gears of the whales that are manipulating the price down.
