This is not a shocker nor is it a joke, BCH has experienced a lot of battles and has always managed to overcome and find its way to rank among top cryptocurrencies. It is quite clear that the majority in the BCH community know little or nothing about BCH, and as they say "if you don't know your history you won't know where you are coming from" and if you don't know where you are coming from you won't know where you are heading. There are dozens of articles on the internet about the origin of BCH, but scarcely will you found any that deal with BCH's all-time trading history. A look at the BCH trading history and all that it has experience makes me regard this coin as the righteous coin so to speak. And as the holy book says "the righteous may fall seven times but he will surely rise again". So, we can have the faith that BCH will rise again. That said.
Now let's deal with the subject of this article.
The inception of Bitcoin Cash was on August 1st, 2017, the day it forked from Bitcoin. A hard fork shouldn't be something that you don't know about, but for clarity's sake, it is a split in the BTC blockchain. Bitcoin Cash and Bitcoin, therefore, share the same transaction history up until August 1st, 2017. The hard fork which created bitcoin cash is the result of a discussion in the crypto community on the subject of scalability. The scaling problem concerns Bitcoin’s struggle to process the large number of transactions on the Bitcoin network.
How does the bitcoin cash price develop?
It’s hard to tell what the future will be for BCH since it still in its early days. Since BCH originated, the coin has experienced several heavy price movements. Here is a break down of the historical price movements and what it is worth:
In July 2017 The bitcoin cash hard fork was announced and the speculating begin. By July 24th the estimated speculative price for BCH was around $500. But like a shocker BCH debuted on cryptocurrency exchanges at an impressive price of $900.
Even at that debut price, major cryptocurrency exchanges boycotted BCH and did not list it on their exchanges. However, it received vital support from Bitmain, the world’s biggest cryptocurrency mining platform. This ensured a supply of coins for trading at cryptocurrency exchanges when BCH was launched. Within a space of 4 months, BCH's price skyrocketed to $4,091 in December 2017. BCH maintain this price level into 2018 and drop a little to $3,756 before December that year when an in-house battle started within the BCH community.
The Craig Wright disagreement
As you must have known, the Bitcoin cash chain updates every 6 months. In November 2018, some new updates for the Bitcoin cash chain were announced by lead developer Amaury Archet with the interest to maintain the block size of Bitcoin cash. But Craig Wright, a one-time self-acclaimed Satoshi Nakamoto didn’t agree with the plans. Unable to resolve the differences, Craig Wright published his vision of Bitcoin and calls his new coin bitcoin SV (SV stands for Satoshi’s Vision). This incident leads to a major nosedive for BCH, and by December 2018 BCH was down to less than $80.
2019 BCH recovery year
As said earlier BCH has experienced a lot of battles and has always managed to recover as soon as possible. The year 2019 could be regarded as the BCH recovery year. At the start of January 2019, BCH rallied more than 105% to double its value at $160.53 and reached its high of $329.85 by April 3. But by December that year, the price went down a little to $208.20 on 31 December 2019.
2020 BCH growth continues
BCH begins the year 2020 at a value price of $205.91 and continues the Uptrend to $341.43 by January 17. By June 30th the price of BCH was at $223.50. Gradually the price of BCH continue to push and ended the year at the value price of $349.51 by December 31.
As we can see from the historical trading price of BCH, BCH has proved to be a cryptocurrency that one can safely invest in and be assured of getting a good return with time. Since that great fall in December 2018 BCH has never experienced any such nose-diving again. Today we all know what BCH worth in the market.
So, what is the take-home from all these analyses?
BCH has a great future with a strong resistance to the bear market.
BCH cannot collapse, so we can safely trust in it as it gradually but steadily breaks every limit.
BCH is worth investing your money in and be sure of not losing your money due to the pump and dump mechanism.
BCH is a good store of value that could help to accomplish your financial freedom. So you can continue to HODL.
Finally, BCH is money for the future.
Reference link
I believe too, that BCH has a good future that awaits it. A few more months or years of waiting, and it may have taken the world. I am so proud that I was not here from the start, but I was able to discover it and engage with all that I can.
Still $4000 is such a high value already.