Kim Dotcom sees growth of Bitcoin cash (BCH) more than 800%, BCH is the best known Hard Fork of Bitcoin (BTC). BCH emerged on August 1, 2017 with the aim of being the better and faster means of payment.
Over the past 30 days, Bitcoin Cash has surpassed Bitcoin with a price growth of +31%.
The Megaupload founder Kim Dotcom, announced a price target of 3,000 US dollars for the year 2021. This is a price increase of more than 800%.
Kim Dotcom is known to many because of his company Megaupload. Kim Dotcom, whose real name is Kim Schmitz, has been commenting on the development of cryptocurrencies and the overall market for years.
Schmitz commented on Bitcoin Cash in a recent Tweet. According to the Tweet, Schmitz is calling for a price target of $ 3,000 per Bitcoin Cash by 2021. He gives the explanation of this price target as the increasing acceptance and use of cryptocurrencies.
Bitcoin > great for asset storage
Bitcoin Cash > great for paymentsBitcoin Cash at $310 today.
I expect $3000+ next year.Why?
More and more vendors accept crypto. Vendors want low fees and fast transactions.
I’m bullish on BCH.
I’ll retweet this in a year.
Maybe earlier.— Kim Dotcom (@KimDotcom) December 17, 2020
He attributes Bitcoin’s property as a Store of Value. According to him investors normally do not use the BTC for payments, but as a storing assets. Bitcoin Cash, on the other hand, is a well-suited mean of payment, which brings advantages especially for traders.
He expresses his confidence by retweeting his Tweet next year or earlier.
The Internet Entrepreneur argues that there is an increasing adoption of crypto-currencies commercially. In his view, BCH could benefit from this, As BCH, in contrast to Bitcoin, have lower transaction cost and faster transaction time.
Bitcoin Cash (BCH) has increased by almost 13% in the last 24 hours, while the other top 10 cryptocurrencies show less volatility. The performance of BTC is considered a mood test for the overall market. If BTC manages to defend the recent price gains and remained above 20,000 dollars, Bitcoin Cash can definitely benefit from bullish market.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
