Bitcoin Cash aims the financial freedom of everyone from central authorities and working perfectly to be the best option to use for day to day and peer-to-peer payment whether it's for the big companies or for regular people.
It has been around for almost 5 years from the idea of a real peer-to-peer and decentralized currency of the infamous Satoshi Nakamoto and now available to thousands of merchants all over the world.
Speaking of adoption, Bitcoin Cash is one of the most used and easiest way to make payments wherever you are in the globe as it is borderless, fast and doesn't cost so much when making a transactions. Merchants or any business having Bitcoin Cash BCH in their option can literally save them time and money.
With all the adoption and the potential we saw in Bitcoin Cash, we still can't deny the fact that it is still being undervalued no matter how great and perfectly it works.
Its Price Still Correlates With Bitcoin.
Bitcoin Cash BCH was a hard fork cryptocurrency from Bitcoin BTC but works even better compared to it. Any exchanges where Bitcoin Cash is listed, it will always be paired with Bitcoin BTC.
The price movement of the crypto market is 99% percent relies on how Bitcoin BTC performs. In simple term, Bitcoin BTC can drag the price of most cryptocurrencies especially if it was paired to it. And Bitcoin Cash BCH was not an exception especially because it is somehow related to the existence of Bitcoin BTC.
No matter how great Bitcoin Cash can work to serve the people in the real-world with a real-world utility, its price will still and always rely on Bitcoin. Bitcoin BTC is recognized as the king of cryptocurrencies, if any bad fundamentals targets Bitcoin BTC, it was already expected that if Bitcoin BTC reacted to it and started plummeting, the whole crypto (or mostly) will follow. This is one reason why dethroning Bitcoin BTC is a great move for the crypto market. When that happens, every cryptocurrencies that has the potential to grow, especially Bitcoin Cash that works perfectly in the world of cash payments, can achieve its deserving value.
Bitcoin Cash Was Always Behind In The Trend.
Back in late 2020 and the first 2 quarters in 2021, DeFis was a trend. Hundreds of new chains emerged from different blockchain project giving opportunities to investor to stake and farm different assets in different AMMs but back then, Bitcoin Cash and SmartBCH was still preparing to join the trend. Those chains and AMMs was seen to have a massive usage, adoptions and growth but Bitcoin Cash was still not prepared and jumped when the trend was slowly fading.
During the last 2 quarters of 2021, NFT and GameFi was the new trend. It was one of the reasons why millions of people were adopted and expose to cryptocurrencies. But the experienced from different NFT projects was not 100% positive because lots of people also lost money from scams with an idea of Play-To-Earn gaming. People becoming a lot more wiser on where and when to invest. Bitcoin Cash and SmartBCH jumped into it a little bit late. NFT and Play-To-Earn trend is slowly fading and Bitcoin Cash with SmartBCH was only starting in the trend where the crypto market are making another trend - move-to-earn.
Competitions Are Getting Harder.
Just few years ago, Bitcoin Cash was in the top 10 of all the crypto ranking - in the top 5 to be exact. It has been there for quite sometime and things have changed when the market evolved.
When DeFis boomed, different blockchains emerged and was massively valued. Even meme coins also has a run. Bitcoin Cash was slowly being out of place in the crypto ranking, not because it was not working, but because the interest of the people was redirected.
People forgot how important peer-to-peer payment is and what cryptocurrency should be.
From being in the top 10 crypto ranking, Bitcoin Cash was overtaken by lots of new cryptocurrency projects and now sitting around in the top 20 ranking.
Final Say.
Bitcoin Cash being undervalued because of new crypto projects does not mean it will always stay in that spot. Personally, all of these new trends right now in the crypto space, I considered it as temporary. The crypto market will soon realize and get back on the real track of how decentralized payment should be and Bitcoin Cash will eventually get back in the crypto ranking and will eventually get the price its deserves
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