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RE: Explaining Weekend Volatility with Trader Profiles and Psychology
judging by the schedule, and there is a double top. I think there will be a deep correction to the area of $ 5,500, do you think this is possible, given that China wants to turn off the Sichuan province from electricity for the mining farms, and there is known to be concentrated a very large part of the bitcoin hash. This could negatively affect the price in the short term. In advance I apologize for the text, I'm from Russia and I have bad English
It is hard to say. In the hypothetical situation where a heap of Chinese miners get shut down then the hash rates of both BTC and BCH would drop. That would slow block times until the difficulty level adjusts. Probably more harmful to BTC because of their current congestion issues, but it'd affect BCH too.
I also think about organizing a monopoly on the BCH coin as the complexity of mining is high and there are not such capacities for small miners, these coins are mostly owned only by large pools such as there are in China, I noticed the transfer of funds from BTC to BCH is obtained when China does not earn on bitcoin they earn on BCH is a kind of hashing of risks. It seems to me that BCH will be traded at about the same price in the future with bitcoin