Chia (XCH) is being traded for $31.42 USD, this price, or something like 100USD is probably the fair price, but the peak of 1599 USD was only speculation in my opinion, and these prices can't be reached again.
At that time people was excited about HDD mining and the creator Bram Cohen.
But after more than a year, which problems did the coin solved? What relevant projects are being made?
Unfortunately it was only hype, and the chart says all:
...
At that time people was excited about HDD mining and the creator Bram Cohen.
But after more than a year, which problems did the coin solved? What relevant projects are being made?
Unfortunately it was only hype, and the chart says all:
...
This usually happens when a new coin is launched. Hype spreads like crazy, pumping the cryptocurrency's price to the moon. But after a few months, you will see prices going down due to loss of interest among the general public. It happened with Zcash when it traded well above $1.3k per coin, only to go all the way down to less than $50. What makes you think Chia would be any different? It seems to me that HDD mining's popularity is declining, when there are a lot of coins which can be mined via the use of ASICs and GPUs.
As far as I know, both Chia and Burst are the only coins in existence which can be mined with a HDD. I guess that's why there's not a lot of interest in mining them. If only developers made more HDD-mineable coins things would've been different. Not only HDDs are more accessible than GPUs or ASIC, but they're cheaper too (depending on the type of HDD, of course). At least, the two coins (Chia and Burst) are still alive. Who knows if someone decides to create a new fork out of these projects to revive the hype? Just my thoughts
chia have a lot of fork coin but not have any coin can make price higher than chia