Bitcoin may break through $3,000, and BCC will become the largest competitor?

Even though we are still hours away from the August 1st user-activated hard fork (USHF), most Bitcoin users have more confidence in the community than they did a few weeks ago. In fact, some in the community expect the price of Bitcoin to hit new highs.

Due to the fierce scaling debate within the Bitcoin community, the future of this cryptocurrency was once shrouded in pessimism. In retrospect, these debates and predictions have been a blessing in disguise for Bitcoin users.

Bitcoin users’ curiosity about the debate taking place within the community motivates them to learn more about the technology.

Additionally, as users work to protect their digital assets, they strive to clearly understand the entire scaling process and the various possible outcomes that may ultimately occur.

One group that plays an important role in building awareness of the Bitcoin community is the service providers. These service providers include exchanges, wallet providers (especially hardware wallets), etc.

Kumar Gaurav, Founder of Cashaa – Auxesis said:

“While some people may also sell their Bitcoin in the next few hours due to uncertainty or not knowing how to react to the situation, it is more likely that we will see Bitcoin break through $3,000 and reach new all-time highs. Given the amount of information and guidance released recently regarding this hard fork, the vast majority of the community is ready.”

Gaurav pointed out a few other reasons that may have influenced the current prevailing attitude in the Bitcoin ecosystem:

1. People are happy that the "capacity expansion civil war" is coming to an end.

2. All the big players think BCC is just another altcoin

3. Bitcoin has more and more uses.

4. Bitcoin users may buy more Bitcoins in order to get more "free BCC".

Taking a long-term approach

However, he also acknowledged that Bitcoin users may face uncertainty during this period, but this uncertainty may be resolved a few days after the hard fork.

Gaurav suggested that users should not worry if the price of Bitcoin drops after the fork. He explained that in the early days of BCC, some people in the community may invest in BCC. However, in the longer term, based on the above factors, Bitcoin will surpass it again.

Looking ahead, Gaurav pointed out that BCC may eventually become one of the largest altcoins. Compared with Ethereum, ETC has now become the seventh largest altcoin, rising from the initial $0.75 to the current $13. Therefore, it is recommended that Bitcoin users do not sell BCC immediately after the fork, and wait and see whether BCC can replicate the success of ETC.