Bitcoin Cash (BCH) has been surrounded by controversy since it originally launched. In the leadup to the fork that created this coin, many people expected that it would spike up briefly, then quickly fade out to nothing, as has been the case for so many other forked coins. BCH, however, was able to gain support from a decent number of miners as well as some whales, allowing it to become quite successful.
In the months after its creation, it was being added on to a number of major exchanges as trading pairs, which helped to further push the price up. There were even times when people thought it might surpass Bitcoin (BTC) and take over as the leader of the crypto-world.
The fact is, however, that Bitcoin Cash has never been a good candidate to replace Bitcoin. While it does have some advantages over the original crypto, these advantages aren’t significant enough to dethrone BTC.
Personally, I’m a big advocate of letting Bitcoin die off naturally. While it was truly revolutionary, it is now too slow and requires too much power to allow the ‘average Joe’ to mine. This has led to the consolidation of power in the hands of too few people, which is something that was never intended.
In order for a coin to overtake Bitcoin, however, it will need to be something that addresses all, or at least most, of the shortcomings of BTC. As of right now, there aren’t any strong candidates. In fact, it almost seems more likely that the ‘powers that be’ behind Bitcoin might be able to address most of these concerns so that BTC can remain the clear winner.
Bitcoin Cash, however, has just been removed from KuCoin exchange as an option for trading pairs due to its lack of volume. This is a big indicator that the market in general seems to be pulling away from BCH. While it won’t likely go to zero anytime soon, we can likely expect a strong downward trend until it becomes all but irrelevant.