Bitcoin Cash: Graphical Questions
I had remained a novice player in the cryptocurrency domain, especially in investment, trading, and market surveys. I was very much interested in the technology of cryptocurrencies. Blockchain technologies, other distributed ledgers, private and public Blockchains, and block-less distributed ledgers intrigued me a lot.
Currently, I have started to take a serious interest in Bitcoin Cash, the cryptocurrency of our parent blogging platform read.cash.
Recently, I entered the search phrase "BCH crypto graph" in Brave Search. The results give a graphical distribution of Bitcoin Cash price. In what follows, I write down a few questions that arise in my curious mind.
Figure 01: Screenshot with "BCH crypto graph" as the search text (Jan 03, 2022) https://search.brave.com/search?q=BCH+crypto+graph&source=web&rh_type=cc&range=5y
The above graph shows Bitcoin Cash's ups and downs since it started its journey on some day in August 2017. The graph is full of information about when it went up and came down. The data is explicitly viewable. But, the reasons why it went up or came down are not clear. The experts might have given exciting analyses.
The most generic question in the graph
Why did the price of Bitcoin Cash rise so high to US$3,785.82 almost four months after it was launched (December 2017?
Is it because the investors liked Bitcoin Cash very much compared to Bitcoin because of its low transaction fees?
An awkward question come from the graph
When the investors liked Bitcoin Cash's low transaction fees and preferred it, why did the price come down very quickly to approximately US$600 only after another four/five months (April 2018?
Is it because the global fiat economy had been improving in 2018?
The graph touches an all-time low quickly enough
The US economy was better in 2018 and was improving slowly in 2019. As a result, we can see a gradual fall in the price. Bitcoin Cash reached the all-time lowest value of US$76.93 during December 2018.
There is no doubt that the price cap of Bitcoin Cash and other cryptocurrencies remained low from 2018 through 2019.
The graph shows the price remained low until the end of 2020
Even during the enforced pandemic and lockdowns, the Bitcoin Cash price remained lower. Only when the global economy suffered setbacks due to enforced lockdowns did Bitcoin Cash's price cap and most cryptocurrencies increase marginally. Bitcoin Cash rose to US$1300+ in May 2021 and came down quickly in the same month.
The price cap of Bitcoin Cash and most cryptocurrencies would remain low when the global fiat economy improves. The graph speaks about it everywhere.
Conclusion
My curiosity drives me to ask questions about many things including cryptocurrencies, and associated technologies. I am neither an investor nor a market analyst. The available crypto data over the Internet arouse me to raise questions. I guess these questions are implied from the graphical plot of Bitcoin Cash's price.
I haven't tried to make any predictions about Bitcoin Cash.
Postscript
I am a practitioner of STEM - Science, Technology, Engineering, Mathematics. I develop solutions on cybersecurity, data privacy solutions, especially authentication technology and password security.
I am trying to create a solutiuon for the private key-loss problem of any blockchain application, including cryptocurrencies.
May I wish to get your frank opinions and counter views?
Cheers!
Lead Image: I created the animation with my texts, a screenshot from Brave Search https://search.brave.com/search?q=BCH+crypto+graph&source=web&rh_type=cc&range=5y. Sources of all other images are mentioned below the respective images.
Disclaimer: All texts are mine and original. Any similarity and resemblance to any other content are purely accidental. The article is not advice for life, career, business, or investment. Do your research before adopting any options.
Unite and Empower Humanity.
I am also on noise.cash ... click the link if you are there.
January 03, 2022.
