https://steemit.com/bch/@introspectiv/bitcoin-cash-pump-manipulationWe have seen this all before. Right after its fork BCH pumped very strongly through Bithumb steadily rose to around $1000USD then slowly drifted downwards to $350 USD or thereabouts. All indicators showed that pump was not organic, it was orchestrated.
Now that B2X was abandoned and BCH lost its opportunity to get a leg up for another run, it's trying again. So here we go again, like before Bithumb is accounting for roughly half of the volume for this current pump. But is it organic growth or is it again orchestrated? I can say without a shadow of a doubt its not organic growth. I have been watching this pump very carefully and noticed most of the volume is occurring in the middle of their night or very early morning. Times the Koreans should be fast asleep. As I type its 4AM in Seoul and BCH is pumping extremely hard, I watched it rise almost $100 within mins. This is not organic, it's not normal, its manipulation.
Is this the work of the Chinese mining cartel owned by Bitmain and Roger Vers Bitcoin.com pool? It seems logical assume so. Are they are mining/converting/buying BCH through Bithumb to pump their Wu-coin to attract miner attention and user investment, meanwhile they starve BTC of hashing power to try to weaken it? No surprises here but this is what they were going to do at the back end of the B2X fork. But they lost the opportunity so now its plan B. They are counting on BTC holders to get nervous and jump ship by slowing down BTC transactions and making BCH to appear as the chain to be on. By adjusting their difficulty they hope to attract more non-Chinese cartel miners to the fold to consolidate their efforts.
This all goes to show what a fake coin BCH really is. It also shows how corrupt Ver/BU and Bitmain are. IF BCH was so great then just let it win market share on its own merits without manipulation. Wont happen because they don't have Bitcoins 8 years of user confidence, they don't have 8 years of core developer experience they don't have a track record. So guys/gals use caution this pump will deflate rapidly if after the BCH difficulty adjustment BCH doesn't attract organic growth. Invest wisely.
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