The Bitcoin Cash BCH, known as the prince, is an old mainstream currency, a mainstream currency that everyone is familiar with, but most of the people are gradually moving away from it . The reason is that the performance in this round of bull market is very ordinary or even lagging. If it hadn't been for the sudden increase in performance recently, the people would not think of it. Because last year's fierce battle between its founders Zhan Ketuan and Wu Jihan over the management of Bitmain, it seems that Bitmain's prospects are bleak, so its dominant platform currency BCH has also been eclipsed. At that time, Jiang, failed to promote the BCH. Of course, Jiang turned to Ethereum and stopped talking about BCH . An infighting project, a POW coin project unrelated to the current popular DEFI and the like , seems to have no prospects to talk about, and it is normal to slowly fade out of people's vision. BCH has even disappeared from the top ten in market value. Therefore, in the recent rally, most people just see BCH as a bull market following the trend. After all, even NEO such as garbage can rise. What's weird about BCH rising in a bull market ?
But is BCH really just following the trend? After studying some pattern, it feels different . It seems that there is a fundamental change in the fundamentals . Mainly manifested in the following aspects:
1. Bitmain's internal fighting has completely ended, because Zhan Ketuan and Wu Jihan reached a settlement agreement in December 2020 -Wu Jihan resigned from the position of CEO and chairman of Bitmain; Zhan Ketuan acquired almost half of the shares in Bitmain held by Wu for US$ 600 million; BitDeer and Overseas mining farms will be spun off from Bitmain, and Wu Jihan will serve as the chairman of Bitfawn, which is a cloud computing product. The relationship between BCH and Bitmain is undoubtedly weakening, but a new start of Bitmain is undoubtedly the real benefit of BCH , giving the platform a stable backbone.
2. The new departure of Bitmain focus on the United States listing . Canaan Technology ( NASDAQ : CAN ) and Ebon International ( NASDAQ : EBON ) , the second and third largest in the mining machine industry, have successfully landed in the U.S. capital market. Bitmain would have been able to go public long ago if not for the infighting. Now that the internals are clarified, a comeback is naturally likely to be listed. Since Coinbase can be listed on pure cryptocurrency exchanges, Bitmain, which is mainly based on hardware mining machines, is of course no problem. If it goes public, it is naturally positive for BCH . Although stocks and cryptocurrencies do not seem to have a direct relationship but the two developed on a platform have an absolute price-comparison symbiosis relationship .
3. The cryptocurrency bull market has brought about a surge in the growth of Bitmain's mining machine business . I haven’t seen the latest financial report at the moment, but the miners don’t need the financial report, they can directly know how hot the mining machine this year is. problem. The hotness of the mining machine business does not lie in the revenue growth of Bitmain's greatest significance, but has won enough time and space for adjustment after infighting , and it is definitely a powerful bonus to the listing in the application . Minning profitability is certainly not directly related to BCH, but it definitely brings confidence to BCH.
4 . BCH community and user base in many countries is still strongand has not been affected much by Bitmain's infighting. Grayscale initially incorporated BCH into the trust, but did not exert much effort. However, we can find that if US institutions only choose 3 to 4 cryptocurrencies , there may not be BCH , but if this range is expanded to 10 , there will be BCH , and its institutional foundation and mass base are very stable . As the application of U.S. cryptocurrencies in various fields and aspects begins to surging, BCH will certainly perform well , and its application range may be greatly expanded.
Therefore, based on the above-mentioned latest situation, there is reason to believe that the fundamentals of BCH have undergone qualitative changes. The peoples do not know whether this change will bring a late bull market to BCH , but they know that this change will definitely have a positive effect on the currency price of BCH . After the recent consolidation of the market volatility, it may be possible to know whether the BCH currency price has really made a comeback.
Of course, the improvement of BCH fundamentals has certain boundaries . After all, in the earliest days, people were serious about whether or not BCH would replace Bitcoin . The title of "Prince" not only represents the authenticity of its inheritance with Bitcoin, but also faintly echoes that it will replace Bitcoin at that time. Possibility, who can say that the prince will not really become the emperor? Otherwise, why do people call LTC "Junk food"? Is it just because of homophony? The same faint hint that LTC is nothing but weeds on the roadside, civilian food. However, after all these years, especially the changes in the last 2 years, no one will believe that BCH can really replace Bitcoin.
In any case, there are not many old coins like BCH that can survive and continue to grow after all kinds of storms. Most peoples believes that BCH fundamentals, its prospects may still be stronger than other POW currencies such as LTC . It deserves continued attention.
