Context. AT 2000ch is a highly variable massive star and supernova imposter in NGC 3432 first detected in 2000. It is similar and often compared to SN 2009ip, and it is therefore expected to undergo a core-collapse supernova (SN) -a SN imposter of similar brightness-in the near future. Aims. We characterize the long-term variability of AT 2000ch in the radio and optical regimes with archival data reaching back to the year 1984. We use these newly reduced observations in addition to observations in the literature to restrict the mass-loss rates of AT 2000ch at multiple epochs based on different approaches, and to infer the general properties of its circumstellar nebula with respect to the detected radio brightness. Methods. We extend the known optical light curve of AT 2000ch up to the beginning of 2022 by performing point spread function (PSF) photometry on archival data from the Palomar Transient Factory and the Zwicky Transient Facility. We reduced archival radio continuum observations obtained with the Very Large Array using standard calibration and imaging methods and complemented these with pre-reduced chang-es observations as well as observations obtained with the Westerbork Synthesis Radio Telescope and LOw Frequency ARray. For the analysis of AT 2000ch, we consider the optical light curve and color evolution, its radio continuum brightness at different frequencies and times, and the corresponding spectral indices. We estimated mass-loss rates and optical depths based on radio continuum brightnesses and Hα fluxes. Results. We report two newly detected outbursts of AT 2000ch similar to those found in the 2000s and 13 re-brightening events, of which at least four are not conclusively detected because of insufficient sampling of the light curve. The dates of all outbursts and significant, well-sampled re-brightening events are consistent with a period of ∼ 201 ± 12 days over a total time-span of two decades. Such a behavior has never been found for any SN imposter, especially not for candidate SN 2009ip analogs. During 2010 to 2012 and 2014 to 2018, we only have a few detections, which is insufficient to come to any conclusion as to a possible less eruptive phase of the transient. We find steady dimming after the most recent re-brightening events and possible evidence of porosity in the circumstellar envelope, suggesting AT 2000ch may currently be in transition to a state of relative calm. We identified a second, unrelated source at a projected distance of ∼ 23 pc (∼ 0.5 ) that has contaminated the optical measurements of AT 2000ch at its minimum luminosity over the last two decades probably on a 5%−10 % level, but this does not affect our overall findings and is negligible during re-brightening. We are able to restrict the mass-loss rate of AT 2000ch to range between several 10 −6 M /yr and several 10 −5 M /yr. The fresh ejecta appear to be optically thick to radio continuum emission at least within the first ∼ 25 days after significant re-brightening. Conclusions. We suggest that other SN imposter and proba...