On April 20 of this year, the first derivation of the original division of the Bitcoin chain, Bitcoin Cash «BCH» will suffer a halving in the reward of miners who find a block in their Blockchain, something known in Crypto slang as halving.
A month before the much-publicized Bitcoin halving takes place, coincidentally two cryptocurrency projects that maintain the same SHA 256 Bitcoin Cash and Bitcoin SV consensus algorithm, will undergo the same process in their respective block chains.
While all the attention is focused on Bitcoin «BTC» for being the main market reference, Roger Ver's project, nicknamed the Jesus of Bitcoin for his early adoption of Blockchain technology and the cryptocurrency itself, has been missing The more it grows in 2020, in terms of prices and market capitalization it refers to.
To put the numbers in context, BCH has managed to grow faster so far from January 2020 than since the last fork of November 2018, where the mythical hash war that generated the derivation of Bitcoin SV occurred.
According to the 1D chart for the BCHUSD pair in Binance, Bitcoin Cash has grown + 99.40% during the first 29 days of the year 2020, going from USD 203.65 for January 1 to a maximum of USD 406.09 reached last 18 from January. This growth represents + 13.5% more growth compared to what was achieved in post fork history.
The meteoric rise of BCH in its price has also been strongly felt in its market capitalization, which has allowed it to ascend to the fourth position of the general cryptocurrency ranking according to CoinMarketCap, with just over USD 7,000 million currently.
Bitcoin Cash has been able to take advantage of the great moment of the market to capitulate its rise and be located only about USD 3,000 million from its closest competitor at the top of the ranking, historically the Ripple XRP token.
In just a couple of months, the first fork of BTC has managed to scale from the seventh box to the current position and now everything seems to indicate that it is a matter of time to move the Ripple token that has remained stagnant in terms of marketcap growth .
In the current month alone, the market capitalization of BCH has grown by + 85.26%, this is about USD 3.18 billion, which explains the rise in the ranking of the altcoin.
In contrast, Ripple's XRP token advanced + 33.24%, which in monetary terms meant about USD 2.76 billion in the month of January alone, about 420 million less than the Bitcoin fork.
While - and it is important to clarify - the world of cryptocurrencies is totally volatile and unpredictable and it is not possible to determine accurately in any market the future behavior of an asset, a simple projection exercise based on current numbers suggests that both assets If we follow their behavior reflected in the current month, we could see a change of position by the middle of the beginning of April 2020, just before the next Bitcoin Cash halving.
The projected percentage growth based on what was reported in the current month, indicates that we would be witnessing the rise of BCH to the select group of the three most important cryptocurrencies in the market with double-digit capitalization in terms of billions of dollars for the first week of the Q2 2020.
The alternative scenario theoretically projects a displacement of the XRP token by BCH by the end of the third quarter of the current year.
However, for the theory to become a reality, a number of external factors must be satisfactorily resolved as soon as possible, such as confidence in the miners to continue supporting the BCH blockchain, which was temporarily compromised after the proposal. of its founder on a cryptocurrency tax for mining.