Kim Dotcom: Bitcoin Cash at $3,000 in 2021
Kim Dotcom: Bitcoin Cash at $3,000 in 2021

Kim Dotcom: Bitcoin Cash at $3,000 in 2021

By Marco Cavicchioli - 18 Dec 2020

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According to Kim Dotcom, the price of Bitcoin Cash (BCH) could rise to $3,000 next year

Bitcoin Cash was born in August 2017 from a fork of Bitcoin, and since then its price has taken a path that only broadly followed that of BTC. 

Its initial value was around $700, but fell almost immediately to $300. 

Thanks to the great speculative bubble at the end of 2017, it reached an all-time high of $3,785 on December 20th, and has not been able to approach those figures since. 

It even fell below $80 in mid-December 2018, almost a tenth of its initial price, but then slowly climbed back up to close to $500 in February this year. 

After the collapse in mid-March, the price recovered first above $200, and then above $300. 

In other words, it is now worth less than a tenth of what it was at its peak

According to Kim Dotcom on Twitter, he believes that BCH could return to close to its all-time highs over the next year. 

Kim Dotcom’s prediction on Bitcoin Cash

Kim argues that while Bitcoin (BTC) is great as a store of value, Bitcoin Cash (BCH) would be great for payments

However, if, for example, we compare the number of average daily transactions that are recorded on the two respective blockchains, it turns out that those of BCH are still significantly less than a tenth of those of BTC, which is therefore actually much more widely used. 

Furthermore, the number of average daily transactions on BCH has not increased significantly over the years, so for now there is no upward trend in this respect. 

However, Kim says that from now on an increasing number of retailers will accept cryptocurrencies as a form of payment, but they will want fast transactions and low commission costs. 

In fact, BTC is not yet very competitive in this respect, because the use of the Lightning Network is not yet widespread. 

This is why he is bullish on BCH, assuming that its value could rise from the current $310 to $3,000 over the next 12 months.

Marco Cavicchioli

Born in 1975, Marco has been the first to talk about Bitcoin on YouTube in Italy. He founded and the Facebook group" Bitcoin Italia (open and without scam) ".

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