Altcoin "Bitcoin Cash" (BCH) outperformed the rest of the crypto market today, closing +23% higher with no fundamental news. The timing of the rally coincides with the latest difficulty adjustment in Bitcoin, meaning that the next one will not occur for about two weeks. The implication of this is that the higher BCH price might make mining BCH more profitable. If this occurs then we will see a movement of hashpower from BTC to BCH. With less hashpower the speed of BTC blocks will decrease and there will be congestion on the blockchain and likely an increase in fees. Bitcoin has a built in difficulty adjustment mechanism to fix this, however as mentioned above this won't happen for another two weeks. This type of attack occured back in November and was used by BCH proponent Roger Ver as marketing material to attract more users to BCH. Below are some charts from November where the BTC difficulty was "1,364,422,081,125" from November 10th until November 24th, during which time BCH/BTC price spiked above 0.35 (hitting as high as 0.50 in intraday trading) and the hashpower of BCH overtook BTC for a brief moment.
And finally, Roger Ver took an interview today to promote BCH on The Alex Jones Show. It was convenient that BCH had rallied before he appeared on the show. However he didn't plan for someone to phone up and call him out for his agenda. Video extract below.
