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RE: Bitcoin (BTC) Mid-Day Update: Precisiont HIT of Downside Elliott Wave Targets!! THIS IS THE POWER OF TECHNICAL ANALYSIS!!!
Miners like bigger blocks. Users get served better with faster and cheaper blocks which also result in more merchant adoption. BTC hashpower has fallen over 60% in 2 days. All of that went to BCH. Think about the effects of that.
https://fork.lol/pow/hashrate
BCH is also the longest chain BTW.
This has the pump&dump speculators involved. But there are also tons of long term sustainability and fundamentals involved too.
Doesn't really matter that BCH is the longer chain, since the difficuly was always way lower than BTC. The total work is what most people care about. I think BCH will overtake BTC eventually, but BTC has over ~50% more work than BCH.
I agree it won't happen right now. It could take upto another year. If some banksters pull of something things good go in a different direction. I actually had a very long discussion on this post: https://steemit.com/cryptocurrency/@arthuradamson/bitconnect-investigation-if-this-is-a-scam-and-it-falls-the-government-will-not-turn-a-blind-eye
Please take your time to check it out. There was several pages worth content in the comments.