Bitcoin Cash experienced a significant increase in hash rate, reaching a yearly peak as an unidentified miner controlled 90% of the network's blocks in just two days. This surge occurred as the BCH token hit a four-month low due to market fluctuations and Mt. Gox BCH repayment issues. The rise in hash rate, from 3.6 EH/s to 9.4 EH/s before stabilizing at 3.3 EH/s, signifies network health and security. The dominance of miner 'Phoenix' raised concerns about centralization risks. Additionally, BCH's price decline to $305 was attributed to the broader market downturn. As Bitcoin Cash faces challenges post-halving, questions arise about its impact on Bitcoin's future. Despite claims by Wright to be Satoshi, Bitcoin forks struggle against BTC. CryptoSlate's market report explores the impact of long-term holders and short-term holders on the Bitcoin ecosystem, emphasizing the need for caution in cryptocurrency trading. Read more AI-generated news on: https://app.chaingpt.org/news