Bitcoin Cash (BCH) remains one of the most controversial yet resilient cryptocurrencies in the digital asset space. Once valued at nearly a quarter of Bitcoin’s price, it now trades at roughly one-fortieth — a dramatic fall from its peak. Yet despite years of bear markets, internal conflicts, and fierce competition, BCH still ranks among the top five cryptocurrencies by market capitalization and maintains a loyal, ideologically driven community.
At the heart of this persistence is a compelling narrative: that Bitcoin’s scalability flaws will resurface during the next bull market, creating an opening for BCH to reclaim relevance — and possibly even surpass expectations.
One figure who has consistently championed this view is Jiang Zhuo’er, a well-respected voice in the crypto world. His portfolio allocation — 40% BCH, 30% BTC, 20% ETH, and 10% in innovative altcoins like EOS — speaks volumes about his conviction.
But why does Jiang matter?
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The Credibility Behind the Conviction
Jiang Zhuo’er isn't just another commentator. He's earned credibility through action:
- Proven investor: Entered the crypto space the same month as Nan Guoyuan, starting with just two mining GPUs. Built a successful mining pool and multiplied his wealth exponentially.
- Educational influencer: Authored “What Is Bitcoin?” on Zhihu — possibly the most-read Bitcoin introduction in Chinese, now considered essential reading for newcomers.
- Accurate forecaster: In 2016, he predicted the 2017 bull run with his article “4,000 Yuan Is Just the Beginning of the Bull Market.” He also correctly identified the $3,000 price floor before the last cycle’s recovery and successfully exited near the top before the 2018 crash.
- Low-key and trustworthy: Unlike many crypto influencers, Jiang has never endorsed an ICO or promoted any project for profit. He rarely appears publicly but consistently shares insightful, data-driven analysis online.
Still, he emphasizes: “Short-term price movements are up to God.” No one can time the market perfectly — but long-term trends can be analyzed.
So, can BCH truly make a comeback when the next bull market hits?
The Origins of Bitcoin Cash
The story of BCH begins with ideological divergence within the Bitcoin community.
After Satoshi Nakamoto released the Bitcoin whitepaper, early adopters like Jihan Wu of Bitmain were captivated by its vision. However, Bitcoin’s technical limitations became increasingly apparent — especially its 1MB block size cap, which restricts transactions to about 7 per second.
As usage grew, network congestion led to high fees and slow confirmations. The core development team favored off-chain scaling solutions like the Lightning Network. But many users and miners believed that increasing block size was the true path to decentralization and usability.
Enter Jihan Wu — someone with both technical understanding (he translated the Bitcoin whitepaper into Chinese) and financial power.
In August 2017, he led the hard fork that created Bitcoin Cash (BCH), giving every BTC holder an equal amount of BCH. With larger blocks (initially 8MB, later increased), BCH offered faster transactions and lower fees — staying closer, proponents argued, to Satoshi’s original peer-to-peer electronic cash vision.
Bitmain supported BCH aggressively, using mining revenue and influence to push adoption. BCH surged from $400 at launch to nearly $9,500 within months.
But then came the bear market.
Mining equipment like Bitmain’s Antminer S9 plummeted in value — from $2,700 units selling out instantly to under $300 with no buyers. Billions in profits evaporated.
Then came the BCH civil war.
In 2018, Craig Wright (often called "澳本聪" in Chinese circles) opposed BCH’s upgrade path and launched BSV (Bitcoin SV), sparking a costly hash rate war. Massive amounts of capital were burned in mining wars as both sides fought for dominance.
Though BCH survived, its momentum stalled. BSV gained notoriety through aggressive marketing, while BCH retreated into relative obscurity.
Where Is BCH Today?
Despite setbacks, BCH remains active and functional.
It boasts fast transaction speeds and negligible fees — often less than $0.01 per transfer. Real-world adoption is quietly growing:
- In Slovenia, over 432 retailers accept BCH — remarkable for a country of just over 2 million people. Residents use it to buy groceries, electronics, and everyday essentials.
- In Japan and Australia, merchant support for BCH continues to expand.
- Major payment processors like Bitcoin.com Pay enable seamless integration for businesses.
Roger Ver, executive chairman of Bitcoin.com and longtime BCH advocate, frequently posts videos showing real-life purchases using BCH — reinforcing its utility as digital money.
Yet perception remains a challenge.
Most people equate “Bitcoin” exclusively with BTC (the original chain). Even though BCH fulfills many of the original promises of peer-to-peer payments better than BTC today, brand recognition favors BTC overwhelmingly.
Moreover, centralization concerns linger: Chainalysis reports that 56% of all BCH is held in just 67 non-exchange wallets. This concentration raises questions about decentralization — a core tenet of cryptocurrency.
Still, usage doesn’t always correlate directly with price — especially in speculative markets.
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Could BCH Rise Again in the Next Bull Market?
Here’s where things get interesting.
Historically, BCH gains attention when BTC becomes congested and expensive to use.
During the 2017 bull run, BTC transaction fees spiked to over $50, driving users toward alternatives — including BCH. As fees dropped in the bear market, interest faded.
The pattern suggests a cyclical relationship:
When BTC scales poorly under pressure → Users seek cheaper alternatives → BCH benefits.
With another bull market expected around 2025 — potentially fueled by ETF approvals, institutional inflows, and halving effects — network strain on BTC could return.
If small transfers cost hundreds or even thousands of dollars in fees again, will users stick with BTC? Or will they migrate to more efficient networks?
BCH supporters believe this moment will reignite demand. And Bitmain may be preparing.
Though its Hong Kong IPO failed, Bitmain has reportedly begun U.S. listing preparations. New mining hardware is expected to ship in December, boosting network security and signaling renewed confidence.
Could this be the setup for a strategic push?
Jiang Zhuo’er’s cryptic comment about “firing all bullets” in October may hint at coordinated accumulation or marketing efforts ahead of rising network stress on BTC.
Frequently Asked Questions (FAQ)
Q: Is Bitcoin Cash more scalable than Bitcoin?
A: Yes. With larger block sizes (up to 32MB), BCH processes more transactions per second and maintains lower fees — making it more suitable for daily payments compared to BTC.
Q: Why did BCH lose value compared to BTC?
A: Several factors: weaker brand recognition, internal community splits (especially with BSV), lack of developer momentum compared to platforms like Ethereum, and market preference for BTC as “digital gold.”
Q: Can BCH ever surpass BTC in value?
A: Unlikely in the near term. BTC dominates in security, liquidity, adoption, and perception. However, BCH could outperform BTC during periods of high BTC congestion if users shift toward practical usage chains.
Q: Who controls most of the BCH supply?
A: A small number of wallets hold a large portion of BCH. According to Chainalysis, 56% is controlled by just 67 addresses not linked to exchanges — raising centralization concerns.
Q: Does real-world adoption affect BCH’s price?
A: Not immediately. While growing merchant use builds long-term fundamentals, short-term price is driven more by speculation, macro trends, and BTC’s performance.
Q: What triggers renewed interest in BCH?
A: Rising BTC transaction fees and confirmation delays during bull markets typically bring attention back to BCH as a faster, cheaper alternative.
Final Thoughts
Bitcoin Cash may no longer dominate headlines, but it hasn’t disappeared. It represents a different vision of what cryptocurrency can be — not just store-of-value digital gold, but actual digital cash for everyday transactions.
While it faces challenges in decentralization and branding, its core advantages remain: speed, low cost, and proven usability.
As we approach the next bull cycle in 2025, watch closely: when Bitcoin slows down and fees rise, Bitcoin Cash might just get its second wind.
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