Bitcoin Cash
Why Bitcoin Cash is up 5.8% today
Analysis
Bitcoin Cash (BCH) rose 5.8% over the past 24 hours as traders digested signs of tightening miner economics across the network. CryptoPotato reported that mining profits have been drying up across BCH and other major PoW coins, a development that can be interpreted as increasing cost pressure on miners and potentially reducing sell-side flow from mining activity.
Contributing Factors (1)
Mining Profits Dry Up Across Bitcoin, DOGE, LTC, and BCH
Dogecoin and Litecoin miners face mounting pressure as mining profitability remains low across major proof-of-work assets.
Move Details
Explanation Confidence
Moderate confidence. Multiple factors may be contributing.