New ChainBulletin Research Says Community Enthusiasm for Bitcoin Cash (BCH) is Soaring
Bitcoin Cash [BCH] is one of the most polarising altcoins in the market today. However, love it or hate it, the digital currency has continued to defy all odds and perform exceedingly well despite the market being quite sluggish for the last year or so.
To further elaborate on this point, a recent study released by ChainBulletin has shown that enthusiasm in regards to BCH (according to various online media portals— particularly Reddit) has continued to soar.
In regards to the matter, Bitcoin.com’s Roger Ver recently took to Twitter to spread the word and promote the project.
New study shows that Bitcoin Cash "outperforms everyone else in Reddit enthusiasm during a bear market, with a community that’s clearly passionate and devoted to global adoption."https://t.co/qsKbIjBe2q pic.twitter.com/fnHhWZyjas
— Roger Ver (@rogerkver) February 11, 2019
More on the Study
As per the above mentioned study, ChainBullettin looked at the market dominance of BCH by taking into consideration the following factors:
- The activity associated with the coin’s subreddit.
- Traffic generated by BCH on forums outside Reddit
- Social-media platforms built atop the BCH ecosystem
- Number of searches that pop-up in relation to the altcoin on various platforms such as meetup.com.
In terms of the results limited to the first parameter, Bitcoin Cash [BCH] lead the roost followed by other major cryptocoins such as Bitcoin [BTC], Ethereum [ETH], Ripple and VeChain [VET].
Additionally, BCH has witnessed a massive surge in its subreddit activity ever since the digital currency underwent a hard-fork last November. On the subject, Chainbulletin’s study noted:
“Despite unfounded allegations of being a pump-and-dump, the fourth cryptocurrency in terms of market cap outperforms everyone else in reddit enthusiasm during a bear market, with a community that’s clearly passionate and devoted to global adoption.”
In closing out this piece, it is worth remembering that while the BCH project has been able to garner a lot of market traction over the past few weeks, the currency’s overall technical quality still leaves much to be desired.
For example, an independent market commentator recently went online and posted the following message:
“Pretty sure you know the difference between quantity and quality. Bagholding Bcash and ranting about it on reddit doesn‘t make your fork outperforming anything.”