Bitcoin Cash (BCH) is probably well known within the crypto community as the coin that wanted to be Bitcoin, but failed at it so far. BCH, or some might call it Bcash, has been born as the minority chain on August 1, 2017 via a hard fork as the result of a blocksize debate. Every Bitcoin holder received these coins on a 1:1 basis on the new chain. The new community has been very controversial so far with lead figures Roger Ver and Craig Wright (the guy who claimed to be Satoshi) promoting it. For the fourth time since its inception Bcash managed to break below 0.1 BTC / coin. There have been several negative news recently that could have been contributing to the current valuation.

What should be noted here is the constant lack of volume together with the decline in price. The only time the coin has been in an uptrend were flash pumps so far, meaning that there has not been ‘organic’ growth previously, but rather coordinated moves upwards and steady declines afterwards. The BCHUSD chart isn’t pretty either as the coin is currently down from 4000+ USD to a low of 708 USD.

The recent negative news regarding the coin and its community:

Lack of trade volume (we only count exchanges with a fee structure)

KuCoin and OKEx delisted several token pairings of the coin citing lack of volume meaning that it didn’t succeed in being a medium of exchange

Peter R. Rizun, one of the main developer behind the project, has been constantly calling out Craig Wright for his faulty papers and lack of code as proof (1,2,3)

Bitcoin.com lead writer Jamie Redman aka @JamieCrypto was busted by Aaron Van Wirdum for using a sockpuppet to troll writers and public figures working in the Bitcoin space. That alternate account has been used for almost a year to harass users. The writer doubled down on lies stating a hack, but later admitted his fault in a thread made by Roger Ver (owner of Bitcoin.com) on r/btc. This is sad news considering that Bitcoin.com has been used previously to spread propaganda against Bitcoin and Bitcoin Core.

Roger Ver threatening to sue a twitter user for a harmless joke on the above mentioned case

Both Litecoin and Dogecoin manage more transactions on-chain according to Bitinfocharts.com meaning that Bitcoin Cash has no real adoption currently

Currently most altcoins are in decline as BTC has been dropping to below 7000 USD lately, but this just shows that this project is no exception. Let’s hope that they recover for the investors sake.