Bitcoin Cash is on the brink of falling below 1% of Bitcoin’s price

Bitcoin Cash (BCH) holders have no reason to celebrate, despite the 46% year-to-date gains in U.S. dollar terms. One year ago, the altcoin was the third-largest by market capitalization. It now risks dropping out of the top 10, having been surpassed by other cryptocurrencies including Litecoin (LTC) and Chainlink’s LINK.

BCH/BTC. La source: TradingView

After three years of continuous devaluation, BCH finally traded below 0.01 Bitcoin (BTC) en février. 22. Besides being psychological support, it marks a 96.5% devaluation from its highest close of 0.285 BTC en août. 2, 2017.

Even though both cryptocurrenciescombined hash rate was somewhat comparable at the time, it has since become a one-sided battle, with BTC’s hash rate dominance now over 98% versus BCH and Bitcoin SV (BSV) combined.

Bitcoin Cash and Bitcoin hash rate. La source: Coin Metrics

As depicted above, the BCH hash rate currently stands at 1% des BTC 150 exhashs par seconde. toutefois, BCH proponents argue that Bitcoin Cash’s 10-block checkpoint system defends the blockchain against hostile reorgs, so less hash rate is needed.

cependant, while the risk of adeep reorgis reduced, checkpoints come with tradeoffs, particularly the increased risk of a consensus chain split, according to BitMex.

The addition of checkpoints has also led to criticism from Bitcoin proponents, who argue that this solution compromises the decentralization of the Bitcoin Cash network.

Litecoin’s active addresses outshine Bitcoin Cash

Daily active addresses are a vital on-chain metric, albeit they are often inflated when the lower transaction costs are considered alongside network security tradeoffs. cependant, comparing BCH with Litecoin and Dash seems reasonable, as the three networks have average fees below $0.05.

BCH, LTC and Dash daily active addresses. La source: Coin Metrics

As the data indicates, Litecoin currently has double the number of Bitcoin Cash daily active addresses. Par conséquent, the activity on the Bitcoin Cash network is more similar to that of Dash, an altcoin with a $2.2 milliards de capitalisation boursière

VORTECS™ But (Jaune) contre. BCH price. La source: Cointelegraph Markets Pro

aditionellement, les VORTECS™ metric from Cointelegraph Markets Pro began dropping on Feb. 18, just days before the price peaked.

Les VORTECS™ But, exclusif à Cointelegraph, is an algorithmic comparison of historic and current market conditions derived from multiple data points including market sentiment, volume d'échanges, mouvements de prix récents et activité Twitter.

The score fell to sub-50 levels, and the drop in BCH price came four days later, losing the important $670 niveau de support.

Les vues et opinions exprimées ici sont uniquement celles de author et ne reflètent pas nécessairement les vues de Cointelegraph. Chaque mouvement d'investissement et de trading comporte des risques. Vous devez mener vos propres recherches lorsque vous prenez une décision.

Bloquons les annonces! (Pourquoi?)

La source: Cointelegraph

chargement...