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Bitcoin (BTC/USD) forecast and analysis on January 20, 2019

With the introduction of one of the first hard forks to take place in the world of Bitcoin, Bitcoin Cash (BCH) was born. And since then, it was regarded as a revelation for all of those involved in the blockchain and cryptocurrency space, aiming to redefine what Bitcoin is.

While it had some high hopes in the days after the hard fork took place, 18 months on and we see a wholly other future for Bitcoin Cash. It is through this span of time that it has plummeted down the ranks, being overshot even by altcoins.

This fall from grace is something that isn’t going to change, in the mind of Cobra, which is the otherwise enigmatic name given to the famous co-founder of the cryptocurrency websites, Bitcoin.org and Bitcointalk.org. According to him, Bitcoin Cash is officially worthless, and has a steeper fall to come.

According to his Twitter account back on January 18th, Cobra argued that Bitcoin Cash is on a darker trajectory, and a downwards slide down to its inevitable death. It is a profound lack of innovative vision and fundamental purpose. It is because of this that Cobra wholeheartedly believes that its value will plummet to zero over the course of years.

It is within some of his tweets that he stated:

“Bitcoin is officially dead. What it needs it new and energetic leadership, as well as direction and purpose, otherwise it will be dead and worth $0 in a few years.”

When Cobra was approached for further comments regarding the prospects of what sort of leadership Bitcoin Cash would need, and the kind of prospects there are for this.

The ultimate irony that this pertains to something that is wholly contradictory to the whole function of Bitcoin. Cobra went on to state:

“True, but this is Bitcoin Cash, not Bitcoin. Where Bitcoin can survive effectively with no centralized leadership, but Bitcoin Cash is a different system and needs to be shown in that sort of way.”

One of the other comments made to Cobra was by a Ryan_Pafumi:

“Bitcoin Cash has always been worthless, much like all the hard forks have turned out as. And now, with it going the way that it is, Bitcoin Cash needs to be put down already.”

There are a number of other users that have since come out of the wood work to express their critical opinions about Bitcoin Cash, especially with the more recent hard fork in the BCH, which led to the emergence of the now 10th ranked cryptocurrency – Bitcoin SV. This new manifestation has since been backed by Craig Wright of nChain, as well as Calvin Ayre.

Going into this hard fork in November, another user stated:

“It’s in foresight that we can see the most ideal solution being the sale of BCH weeks after he hard fork all before it goes down to 0.”

It goes without saying that one of the biggest advocates for Bitcoin Cash has been the CEO of Bitcoin.com, Roger Ver, who is more than forthcoming in how he praises the Bitcoin Hard Fork. Ver went on to argue that Bitcoin Cash’s hard fork product – which is Bitcoin ABC, a new iteration that has since ridden a bearish trend since it developed.

Earlier over the course of the week, Roger Ver argued that Bitcoin Cash, over the course of 2019, is steadily taking on the responsibilities that Bitcoin is supposed to be taking on ever since it launched.

Ver, within the same tweet, argued that the original white paper for Bitcoin, highlighting its fundamental purpose was as a ‘peer to peer electronic cash solution,’ that Bitcoin introduced to the marketplace, and is a mechanic that BCH represents the best example for.

Cobra took the time out to quickly retort to Roger Ver via twitter, retorting:

“Does anyone notice how the White paper directs users to .ORG and not to the otherwise fake .COM, which Satoshi went on to say had ‘nothing to do’ with Bitcoin? You are surely the one fooling people here!”

Last of all, those people out there opposed to Bitcoin Cash expressed a significant amount of annoyance with Ver when regarding his own digital domain, Bitcoin.com, and its own relentless Bitcoin Cash-based narrative.

It was in the wake of this that the individual behind the Bitcoin Error Logging system, John Carvalho, went on to challenge Roger Ver to some kind of ‘fight’ for the rights to Bitcoin.com.

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