Bitcoin Cash (BCH) soon at USD 3000? – Kim Dotcom sees growth of more than 800%
Bitcoin Cash (BCH) is probably the best known and most stable hard fork of Bitcoin (BTC). After months of intense discussion about the block size of Bitcoin, the cryptocurrency BCH was created on 01 August 2017 with the aim of being the „better“ and faster means of payment. In the last 30 days, Bitcoin Billionaire app has outperformed Bitcoin with a price growth of +31%, making it the second strongest cryptocurrency after Litecoin (LTC) in the last 7 days.
Megaupload founder Kim Dotcom has now caused speculation by declaring a price target of 3,000 US dollars for the year 2021. This would mean a growth of more than 800% for Bitcoin Cash.
Bitcoin Cash (BCH) prediction by Kim Dotcom
Kim Dotcom may be known to the majority of readers through his former company Megaupload. Kim Dotcom, whose real name is Kim Schmitz, has been commenting on the development of cryptocurrencies and the overall market for years.
In a recent tweet, Schmitz now commented on Bitcoin Cash.
As can be seen from the tweet, Schmitz is calling for a price target of $3,000 per Bitcoin Cash by 2021. He sees the explanation for the price target, which he puts at USD 3,000 without further justification, in the increasing acceptance and use of cryptocurrencies.
Specifically, he sees Bitcoin as a store of value. By definition, this means that investors do not use the cryptocurrency for payments, but rather to store assets. Bitcoin Cash, on the other hand, is a well-suited means of payment that has advantages for traders in particular.
He expresses his confidence by retweeting this tweet next year or sooner.
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Market development as a dominating factor
Kim Dotcom predicts a Bitcoin Cash price of $3,000 in 2021. The internet entrepreneur argues with an increasing adoption of cryptocurrencies in commercial trade. In his view, BCH could benefit from this, as the cryptocurrency, unlike Bitcoin, can demonstrate lower transaction costs with faster transaction times.
From a technical perspective, the main positive factor remains that Bitcoin Cash (BCH) has risen by almost 13% in the last 24 hours, while the other top 10 cryptocurrencies show less volatility.