A Bitcoin Cash ($BCH) Chart Investors Should Not Miss

Bitcoin Cash adoption as a P2P Electronic Cash alternative to fiat currencies spreads around the globe.

We discover today's adoption of Bitcoin Cash as an alternative means of exchange in isolated locations we wouldn't imagine.

There is no forced conversion, and the El Salvador example proves that money or payment networks should never be forced but voluntarily adopted by consumers and the business world.

Bitcoin Cash presents a robust and decentralized network of P2P payments with low fees and instant transactions.

Developments on-chain and on top of Bitcoin Cash are thriving, with smartBCH exploring the field of EVM compatible smart contracts.

The charts illustrate sentiment and adoption levels of Bitcoin Cash and perhaps currently BCH presents a rare opportunity.

Bitcoin Cash Follows the Exact Same Pattern With Bitcoin in 2014

It is not just the pattern that is similar but multiple factors as well.

Let's take a look at the chart in question:

This is the chart cryptocurrency investors today should research carefully, and it is not the current Bitcoin Cash chart, but the weekly Bitcoin chart in USD price between 2013-2015.

Analyze the 2013-2015 Bitcoin chart together with the chart of Bitcoin Cash for 2020-2022:

Notice the resemblance in both charts? We know what follows this pattern, at least for Bitcoin in 2015, but we can also predict the future of Bitcoin Cash.

Even the prices of Bitcoin are almost identical, and the price movement as well with minor differences of a few weeks for the waves to play out.

Do you know the similarities with Bitcoin Cash besides the price?

Bitcoin in 2014-2015:

• Anyone buying Bitcoin at $200 was considered a lunatic , shunned, and called various derogatory names. Anyone buying Bitcoin in 2015 was considered an outcast.

• Anyone discussing Bitcoin was meeting negative comments and responses about Bitcoin, spam, and trolls aiming to force quit conversations on Bitcoin

• Censorship from the mainstream media applied to Bitcoin. It was not in the news between 2014-2016 unless it was negative news.

• Most Bitcoin news was negative (concerning hacks, illicit activities of Bitcoin users, the dark web, etc.)

• A vast network of Bitcoin haters existed and suddenly disappeared in 2016. Not actual critics, but hundreds of random anonymous accounts having limited knowledge of Bitcoin, yet, spamming ignorant comments.

• Bitcoin was expanding its network of payments across the four corners of the globe. 'Signs of "Accepting Bitcoin Here" were hanging in bars, restaurants, and websites. Bitcoin was building a rising culture as a means of exchange, until about 2015 when the blocksize debate was decided.

• Bitcoin was often called a "scam" by the mainstream media, TV stations, newspapers, and even popular figures on social media.

Reminds us of anything?

This is identical to what we observe with Bitcoin Cash today.

All the above are "buy" signals. And here is why:

Unless there are clear indicators an asset represents a scam (or a Pyramid) containing no actual product or developments, and no actual community or userbase backing and using its application, the only actual reason for all this negative sentiment and misrepresentation is the competition that understands the merits of this asset/product and desires to keep it suppressed at low levels and concealed from the public for as long it can handle until it adjusts.

Bitcoin Cash is a threat to competition, but the real competition is not BTC today, but the banking payments networks (POS, eCommerce).

Adoption of BCH as P2P Electronic Cash will not stop, though, and one team of devs will not control the network as it happened with Bitcoin in 2015. This development decentralization that characterizes Bitcoin Cash is the fundamental mechanism that ensures consensus-driven decisions by all participants of the Bitcoin Cash community.

We see the exact same behaviors today. Not with the BTC fork, though, but with Bitcoin Cash. The BTC fork proceeded with a schema against Bitcoin's practical utility as P2P Electronic Cash and presented a vague narrative of digital gold, a fairy tale, not even the BTC maxis can explain with accuracy.

The Bitcoin Cash chart illustrates the approach Bitcoin Cash is taking, which is also the right approach.

A bit more violent than the BTC chart, however, this is most probably related to the market conditions that are also changing. BTC is not a monopoly today as Bitcoin was back in 2015. Bitcoin until 2017 was getting 95% of the attention, volumes, and adoption.

Today, everyone predicts that BTC will lose its position as a market leader in the future.

The hashrate of Bitcoin was rising during 2014-2015 since the technology of ASICs was also advancing and more miners were joining since it was profitable. Hashrate varied from 40 Petahash to 1 Exahash. Bitcoin Cash currently has an average of 1.5 Exahash, and as the price will keep rising we should expect miners will keep allocating their resources in BCH instead of other SHA256 algorithms.

New players are entering mining and decentralization is increasing. Since early in Bitcoin mining was mostly concentrated in China. Miners are the same for both BTC and BCH since as businesses they are driven by profit. Miners, though, don't decide which coin will win. They follow the price action, which in turn follows adoption.

Bitcoin Cash Had to Rebuild From Scratch

In terms of network effect, Bitcoin Cash had to build from scratch in 2017 but today it covered the ground and is currently being accepted in tens of thousands of locations (if not hundreds of thousands adding networks such as Bitpay and Gocrypto).

Bitcoin Cash since the beginning attracted multiple Bitcoin OGs and perhaps most of the Bitcoin userbase but it didn't attract most of the volumes and hashrate in the long run.

Trading volumes produce transactions on the Bitcoin network and intense trading was promoted for years as an acceptable method to produce transactions and display a network increasing in numbers.

Exchanges are responsible for the BTC transactions today since by the end of 2013 most volumes represented exchange transactions.

Merchant adoption is rising again with Bitcoin Cash aiming to achieve the dream of P2P Electronic Cash for the world.

Institutional Adoption

Multiple institutions selected Bitcoin Cash as an option in 2021 in a small selection of cryptocurrency options:

• - JPMorgan Chase & Co. (USA): (BCH - BTC - ETH - ETC)

• - SBI Holdings (Japan): (BCH- XRP - BTC - ETH - LTC)

• - Rakuten (Japan): (BCH - BTC - ETH)

• - 21Shares (EU): (BCH - BTC - ETH)

• - Interactive Brokers(USA currently): (BCH - BTC - ETH - LTC)

• - AMC Theaters - Bitpay: (USA)

• - PayPal (USA & UK currently): (BCH - BTC - ETH - LTC)

• - Bancolombia (Colombia): (BCH - BTC - ETH - LTC)

• -US Bank (US): (BCH - BTC - LTC)

(Institutional Adoption of Bitcoin Cash)

Bitcoin Cash developments on-chain and with the side chain smartBCH are guaranteeing the plurality of the ecosystem.

SmartBCH is an Ethereum compatible sidechain, and soon a decentralized bridge (SHA-gate) will be available to transfer assets between the two networks.

SmartBCH already hosts hundreds of projects and a TVL of $35 million in DeFi, while also containing a rising NFT market.

Bitcoin Cash is having an upgrade to further support smart contracts integration and smartBCH compatibility in May, with two major components improving the math side of the network and making the development of apps easier.

• Native introspection opcodes

• Bigger script integers

The developments just in 2021, would be difficult for any investor to ignore and further question the motives of the anti-BCH sentiment and suppression of Bitcoin Cash positive news both in the mainstream and in the cryptocurrency field.

In Conclusion

Summarizing the above, Bitcoin Cash presents today a chart similar to the one back in 2013-2015 (BCHUSD chart). Every reasonable trader removes the initial listing phase of BCH, in the first months as the market was immature, and the network effect of bitcoin Cash had to begin from scratch.

While major threats are involved, a massive short squeeze is brewing, that will alter the price action for Bitcoin Cash significantly.

Price suppression can only last until a breakout point appears. After that the short squeeze takes place and the price will rise parabolically.

The actual threat to Bitcoin Cash was not the price or news suppression, or the vast anti-BCH propaganda in news and social media.

The one threat that Bitcoin Cash thwarted twice in its history is the centralization of developments under one core team of devs. Both attempts (BSV in 2018 and ABC in 2020) failed, an occurrence that greatly improved the image of Bitcoin Cash, at least to the part of the crypto community that is not biased and comprehends where longevity of the cryptocurrency concept is based.

Cover Photo: by " w_motion" on Reddit (used with permission)

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