To date, Bitcoin Cash is the most popular outcome of the 2017 Bitcoin hard fork. The crypto was created with the aim of increasing the block size of Bitcoin and to give room for more transactions within each block. The end goal was to reduce transaction time and lower fees. Soon after the asset was released, it even managed to achieve its all-time high.
By the time of writing, Bitcoin Cash was trading at $353.72 with a market capitalization of $6 billion. Cryptocurrency enthusiasts are closely monitoring the asset ranked at the fourth position to see if it will hit the $1000 mark by the end of 2019.
Bitcoin Cash has also managed to shake off the contentious hard fork of 2018 to steadily rise. It is not clear if we might have another Bitcoin Cash hard fork, any time soon. On the other hand, despite the competitive edge of Bitcoin’s Lightning Network, Bitcoin Cash continues to show its worth.
Based on current statistics, we should expect Bitcoin Cash to achieve more. Already, Bitcoin Cash is showing signs of mass adoption with key institutions incorporating the asset in their systems. We have seen collaborations with Avnet targeting traders and investors. Additionally, we expect to see an increase in Bitcoin Cash adoption after the recent partnership with Jeju Blockchain SmartCity.
Note that at the beginning of 2019, Bitcoin Cash was trading at $150 and the value has doubled by the time of writing this article. Since institutions are taking a keen interest in the crypto the future is bright. If all these factors are put into consideration, Bitcoin Cash should easily hit the $1000 mark with ease.
At the moment, the cryptocurrency market is on a bull run with Bitcoin leading the way trading above $7k with a market capitalization of $126 billion. History shows that Bitcoin price movements usually determine the general outlook of the entire crypto market. If Bitcoin’s run continues, we should also expect Bitcoin Cash to easily hit the $1000 mark.
