Tl;DR from me, i might be wrong
- Segwit 2X got canceled
- High fees issue got no solution due to (2X canceled, meaning no more 2MB block size upgrade from 1MB)
- Best alternatives for this High fees issue = BCH - 8MB Block size + No Segwit (There are people who are against segwit)
- Thus, BCH price got increased and meaning mining BCH become profitable too
- Mining BCH is now profitable which lead people to switch from Mining BTC to Mining BCH
- Hence, This turn out tons of transaction stuck in the Mem Pool of the BTC Network
- Transaction stuck, Slow transaction speed = Congested Network with very high fees payment to pass a transaction
- Not taking risk, switch to BCH
Well I guess you are wrong.
Mining BCH may be profitable now, but its profitability should reflect actual user interest. BCH is not accepted widely and has not yet massively adopted nor it has real long time followers. We need an improvement on BTC network to decrease transaction time and cost. All we see now with BCH is pure market speculation based on paid news, market manipulation and noobs following blindly in panic. I also suspect attacks on bitcoin network currently together with news propaganda.
Why BCH is not going to prosper?
-it is centralised and clearly beeing manipulated
-it has haters
Bitcoin as we see now is unable to smoothly undertake even slight changes in algorythm and both BTC and BCH strongly depend on mining whales. What we see now is dancing whales.
Do we have to swith to BCH? Hundred times no! It inherits all the problems BTC has. Currently we may see wider adoption of coins with ASIC-resistant algos.