According to Kim Dotcom, the price of Bitcoin Cash (BCH) next year could rise to $3,000.
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 it dropped almost immediately to $300.
Thanks to the great speculative bubble of late 2017, it reached its all-time high of $3,785 on December 20, and since then it has not been able to approach those figures.
Even in mid-December 2018 it fell below $80, almost a tenth of the initial price, but then slowly climbed back up, until it touched $500 in February this year.
After collapsing in mid-March, the price recovered first above $200, and then above $300.
In other words, today it is worth less than a tenth of what it was worth at its all-time high.
According to a statement on Twitter, Kim Dotcom believes that in the course of the next year BCH could return close to the all-time highs.
Kim Dotcom’s prediction about Bitcoin Cash.
Kim argues that while Bitcoin (BTC) is great as a store of value, Bitcoin Cash (BCH) would be great for payments.
However, it must be said that if, for example, we compare the number of average daily transactions that are recorded on the two respective blockchains, we find that those of BCH are still significantly less than a tenth of those of BTC, which therefore turns out to be actually much more used.
Moreover, over the years the number of average daily transactions of BCH has not increased significantly, so for now there is no growth trend from this point of view.
However, Kim says that from now on more and more merchants will accept cryptocurrencies as a form of payment, but they will want fast transactions and low commission costs.
In fact, BTC from this point of view is not yet very competitive, because the use of Lightning Network is not yet widespread.
That’s why they say bullish on BCH, assuming that its value can increase from the current $310 to $3,000 over the next 12 months.