I’m trying to understand the possible factors that affect the price of Bitcoin Cash (BCH).
In my understanding, one of the reasons why its price fluctuates is the presence of miners who are attracted to the chain where the difficulty level is relatively low, which in turn will also attract a lot of people since the chain now looks more reliable than the other chain (i.e. that of Bitcoin) with more miners maintaining the network.
Of course, there can be other factors, such as people who’ve acquired bitcoins, obtained the same amount of BCH, and then immediately sold them to earn a “quick buck”, causing its price to go down.
My questions are:
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Is the above argument valid?
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If so, could there be some other elements that can affect the price of BCH?
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If not, what do you think are the reasons behind the price fluctuation of BCH?
Any ideas or feedback will be greatly appreciated.
Thank you.
