Bitcoin Cash (BCH) is probably the best-known and most stable hard fork of Bitcoin (BTC) . After months of intensive discussion about the block size of Bitcoin, the crypto currency BCH was created on August 1st, 2017 with the aim of being the „better“ and faster means of payment. In the last 30 days, Bitcoin Cash outperformed Bitcoin with a price growth of + 31% and is therefore the second strongest crypto currency in the last 7 days after Litecoin (LTC).
The Megaupload founder Kim Dotcom, who announced a price target of 3,000 US dollars for the year 2021, caused speculation. Bitcoin Cash would then face growth of more than 800%.
Bitcoin Cash (BCH) forecast 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 commented on Bitcoin Cash.
As the tweet shows, Schmitz has set a price target of $ 3,000 per Bitcoin Cash by 2021. He sees the explanation for the price target, which he puts at 3,000 USD without further justification, in the increasing acceptance and use of cryptocurrencies.
Specifically, he attests that Bitcoin is a store of value. By definition, this means that investors do not use the cryptocurrency for payments, but much more for storing assets. Bitcoin Cash, on the other hand, is a well-suited means of payment, which is particularly advantageous for merchants.
He expresses his confidence by retweeting this tweet next year or earlier.
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Market development as the dominant factor
Kim Dotcom predicts a Bitcoin Cash price of $ 3,000 in 2021. The internet entrepreneur argues that the adoption of cryptocurrencies in commercial trading will increase. In his opinion, BCH can benefit from this, as the cryptocurrency, in contrast to Bitcoin, has lower transaction costs with faster transaction times.
From a technical perspective, the main positive factor remains that Bitcoin Cash (BCH) rose by almost 13% in the last 24 hours, while the other top 10 cryptocurrencies show less volatility.