For many, Bitcoin Cash appeared quite suddenly as a result of the fork on August 1.

Immediately after the fork, most considered this crypto currency as free money, which must be transferred to other crypto-currencies as quickly as possible. Many crypto-exchange exchanges even seriously doubted whether it is worth adding them to their listings.

Even more people criticized Bitcoin Cash as a way to quickly make money on fork.

What niche was Bitcoin Cash aimed at?.

As the name implies, Bitcoin Cash (cash), with its large blocks, is primarily designed for processing transactions quickly and cheaply, t. This altcoyn should work just like cash. However, the creation of a crypto currency, which acts as a payment network, before it represents a liquid asset, creates many additional problems.

The payment system needs stable liquidity, and this stability can not be achieved if it becomes a payment network before the asset is in demand. Bitcoin Cash also, as a potential global payment system, needs acceptance and popularity among users, which is why this crypto currency is not enough.

But as Bitcoin continued to grow, and Bitcoin Cash did not attract much interest from either traders, long-term investors, or ordinary users, a new problem arose.

SegWit2x failure SegWit2x failure really showed the real attitude of bitcoin owners to this asset - users consider it digital gold. And why waste gold, if it grows in price?.

However, it has a downside. If bitcoin has acquired the status of an expensive asset, then as a means of payment it becomes less competitive.

There should have been an alternative solution and Bitcoin Cash became such an alternative, just the name suitable.

Pumping and resetting?.

However, if people really invested in Bitcoin Cash because this crypto currency works great as digital money, then why did the price of this crypto currency fall sharply after a sharp rise? The price of Bitcoin Cash at the peak exceeded 2500 dollars, but after it fell by almost 60%.

Werner van Ruijen, from the Luno crypto exchange, commented:.

What happened to Bitcoin Cash over the weekend looks like a short-term explosion, with most trades taking place on South Korean exchanges, where the price of this crypto currency was too high compared to other markets.

I have a feeling that the developers of Bitcoin Cash see it as cash, with which you can easily pay off, as the developers and owners of Bitcoin see it as digital gold - something that has value in the world.

This difference between the coins really begins to come to the fore, and many after a sharp take-off of Bitcoin Cash can, just as in the case of bitcoin, hope for further rapid growth in the price of this crypto currency and not sell it for these reasons.

Van Ruijen, says that many users of their crypto exchange are doing just that:.

Today, I personally would prefer to own gold (bitcoin), rather than cash (Bitcoin Cash). But we see that many of our users do not actually hold positions in Bitcoin or Bitcoin Cash - they just keep both the Crypto currency.