Bitcoin Forum

Can anyone please give a sensible argument on why Bitcoin Cash is going up so much right now? Ita 70% up the last time i checked on Coinmarketcap.

Just a pump

People behind the coin that just want it to get more value. Just speculation, a bubble with no real value... Cryptoworld

korea has its teeth in it.

they were also the leaders in ethereum's ultimate pump.

some are saying it's being marketed there as an upgraded bitcoin. upgrade plus lower price plus lack of education = pump.

Because miners are realizing that its more profitable at the moment to mine BCH. Investors are realizing that the 8mb size is actually working. And 90% of the hash rate is run by ONE organization which makes it easier to P and D.

I see it's also a bubble and all those nice comments were all rumors and no definite supporting facts that really contributes to the actual price pump. This was just a diversion from bitcoin to bitcoin cash in order to split the ideas of investors and not focused on bitcoin currency directly. That's I am pointing out this idea to be worthless and no such concrete data like bitcoin economy now price fluctuates and gives really a chance to investors to buy and gain their profit in the future.

I think same rule applies in BCH regarding the price change - the law of supply and demand so if BCH price is pumping hard by now it means theres a hevy demand for it in the market or many people are buying/trading them in which for any unclear reason.

Watch the BCC market on Bittrex, you can watch them pump it up (probably make some money if you jump on for the ride too, but don't get caught during the dumps).

Every minute or so someone buys all open offers at almost any price.

Then every other minute or so, someone else (or the same person as earlier) comes along and sells to all open bids, again with pretty much total disregard for the price requested.

It either crashed Bittrex or they just shut it down because of market instability, the dump cycle went from 0.2 BTC per BCC -> 0.15 BTC per BCC in less than a minute.

No way, this is blatant market manipulation.  Get on the exchanges and watch, it's flagrant.  Wu is sitting there on a giant pile of money shoveling it onto the BCC.

Yes to the above. I heard same. What do you think guys $1000?

Now we see the price of bch is more expensive than last week and I feel this is due to the miner factor and the investors who flocked to make a profit through the new and cheap coin, see the trip last week is still cheap if the sale is now a double profit from the trading capital.

See it, how the centralized coin works. I think it is just  a pump, if not just a little trend for unfamiliar crypto who buy the coin. I know that BCH supported by big media publication so I no wonder if new people in crypto were amazed with this coin. In fact, it is just split altcoin from BTC. BTC will be number one and the second is eth.

Time to buy some popcorn.

NEO is getting pumped now, probably Wu again.

I guess more than $ 1000, I think and hope will be up to $ 3,000 following the BTC price, because the future of BTC BCH highly profitable.

that would be a freaking disaster for all crypto. a $3000 bcash would shit all over the idea of it being a secure store of value if any asshole can copy and paste a coin. no real people would go near it ever again.

what's up with the near 10% difference between bittrex and poloniex?

+1

Don't forget hodlers give this thing value. I'm not saying dump it now. But I'm saying probably dump it. Isn't it?

I agree, i dont understand why people keep hyping bitcoin cash, it is an useless coin, i dont get it.
Why people wants it to go up? there is no logical reason for that.
It will probably fall in the next days, as it happens always with every coin

I'll go with profitable to mine and easy to pump. I do not believe there is real value behind the current rise of bch right now but a pump attempt by some whale trying to make money by dumping on those who bite on his bait.

Yeah, what happened to the days when tech was the driving force in these markets... There are probably many greedy people coming in. But in the long run, if something is not useful, it can't sustain itself

it's extremely useful to the enemies of bitcoin. that's all anyone needs to know and that's why it's never going away.

Do you mean to say this organisation is in it to pump and dump for their personal gains?

Or maybe this could be the first BCH bubble we seeing? TBH i really didnt see expect this surge to happen so soon

Mainly it is speculation.

Also, there are some news, for example this Swiss bank is starting to accept Bitcoin Cash: https://coinjournal.net/switzerland-falcon-private-bank-ether-litecoin-bitcoin-cash/ (https://coinjournal.net/switzerland-falcon-private-bank-ether-litecoin-bitcoin-cash/)

This is the correct answer.

The price rise means it is now more profitable to mine than Bitcoin. And on Saturday around noon, the difficulty drops again, making it even more profitable to mine

The next stage depends on the miners - are they going to maximise proftability? Or endure losses because they love Core?

Adding to the drama is the fact that most alts are based on scrypts, so ASICs can't really mine. Bitcoincash is the first major alt that uses sha-256 which means that at last bitcoin miners have an alternative...

People may not like my opinion, but I expect bitcoin cash to keep rising, It will dominate the other altcoins including ethereum. Thinking otherwise is wishful thinking. $700 is cheap, because it will break the $1000 barrier in a mater of weeks.

Market speculators began to act to pump. I believe this is a major factor in significant price increases occur in BCC market. The right moment to take profit for a fantastic spike.

It's only more profitable for miners IF Bitmain can pump up the value enough to make it appear that this is the case.

So they do that by throwing ridiculous amounts of money at it on Bittrex etc.  Without that constant influx of Wu's money, BCC will crater.  My suspicion is that he thinks if he can get people using it, eventually he can stop shoveling money onto it and it will pay for itself.  Time will tell.  For now I agree with previous poster, ride the pump but get out before the dump.  BCC is still useless.  It's doing a fantastic job of driving down the value of BTC though.  Notice:  BCC goes up, BTC goes down.

IS anyone in this thread actually buying BCH at the rate its at now?

i traded it allot yesterday and made 32% profit total. Today it doesnt seem that tradeble since the price is kinda stable and volume is low.

Actually it is not more profitable. Because 90% of the hashrate is owned by a company they are also mining 85% of the blocks. So for you to join one of the largest Bitcoin cash pools, you will earn .38$ per TH per day before any fees or electricity. That is nowhere near as profitable as BTC. Do the calculation, and do not believe the others and calculator they have. Just go to the Bitcoin Cash explorer, see the total blocks mined by the pool you want to join, then find out it is 1/3 the profit of BTC.

because it's new Alt coin and the Broadcast of BCH is everywhere
i guess BCH don't want to disappoint us.
Maybe BCH is just luring us.
or
maybe BCH is just really good that will overcome Btc someday

it is because of some fud that say the bitcoin cash is better then segwit 2x, and investor moves their money from bitcoin to bitcoin cash, and also it is because the hashrate is doubled since 3 days ago, why ? because mining bitcoin cash more profitable then mining bitcoin, it is still at normal condition.

bitcoin cash is just having a small pump and nothing else but due to this pump, the mining profitability of bitcoin cash have become greater than bitcoin so the Miners are shifting towards bitcoin cash.

Maybe that's why some people call that the hype everyone is excited at the beginning and that is why the price rises so suddenly even despite being a new alt.