BTC/BCH- It seems clear to me now that big money has been leaning on BCH as a hedge against long BTC positions. It’s been a smart play as it’s in-line with the upward trajectory on that pair plus it has provided downside protection against a potential market dump as alts tend to perform worse than blue chips in crash scenarios.
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The reality in terms of price for bch is that it’s been in a bear market since 21st of May 2021. That’s almost 9 months of selling. The last 3.5 months looks like someone big is selling into the market. At the same time media around the project looks like it’s getting some traction with young social media entrepreneurs looking to champion it. Yeah you can like the project which I do - but no way is it looking like an investment opportunity in classic chart terms.