By Rebecca Campbell - November 23, 2017 (www.cryptocoinsnews.com)
Max Keiser has said that bitcoin will increase to $100,000 from its current $8,000 value and believes that bitcoin cash is plagiarising it.
Host of Russia Today’s ‘Keiser Report,’ Keiser recently spoke to RT with the advice of sticking with the cryptocurrency as it will continue to dominate the market, pushing it forward.
He said:
"Hundreds of obituaries have been written about bitcoin and none of them have come true and none will. Fact is, bitcoin is a gift from God to help humanity sort out the mess it has made with its money".
The number one cryptocurrency has risen in recent months spurred on by the announcement that the CME Group are planning to launch a bitcoin futures contracts in mid-December, pending regulatory approval. Just yesterday, it was reported that bitcoin had risen to a new all-time high of $8,380, after recovering from the post-Tether hack market volatility.
Remaining confident as to where the digital currency is heading, Keiser believes that it will hit $100,000. However, even though the combined market value is increasing he believes most of the trading will remain within the top 20 alt-coins.
He added:
"Ninety percent of trading is in the top 20 coins, and that will continue. Coins will come and go. The composition of the top 20 will change less frequently".
While he states that trading within the top 20 coins is unlikely to change much in the future, he doesn’t have good things to say about bitcoin cash, the third ranked cryptocurrency. According to Keiser, the alt-coin is simply copying bitcoin, stating that:
"Bitcoin cash is an alt-coin that has its fans just like many alt-coins. I don’t think anyone who uses bitcoin’s name and applies it to an alt-coin like bitcoin cash does is adhering to acceptable business practices. In other words, bitcoin’s brand is being stolen by a competitor that calls itself bitcoin cash and this is outright fraud in my opinion, just like it’s fraudulent to use Coca-Cola and Nike’s name to sell soft drinks or shoes".
Created at the beginning of August, bitcoin cash has been marketed as the digital currency alternative to bitcoin and the answer to bitcoin’s current scaling issues. Despite a lack of support during its early days, with its price remaining below that of $1,000, recent weeks has seen it reach new all-time highs. Since last week, bitcoin cash has risen from $800 to $2,900 and is currently trading at $1,491, according to CoinMarketCap.
Yet, despite its fluctuating price, bitcoin cash proponents Roger Ver and Calvin Ayre have proclaimed that ‘bitcoin cash is bitcoin.’
Featured image from Shutterstock.
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