Bitcoin Cash - why up

[ulhaq]

Why is the value of bitcoin cash going up so much the past couple days? At least half the volume is in South Korea, is there a local factor there that is causing the rise, or is it just a pump?

[vincentvincent]

It is just a total shitcoin. Roger Ver is pumping his toy.

[bitorama]

like other altcoin, pump and dump

[Crypington]

I'm pretty indifferent towards Bitcoin Cash, but it's fees are a tiny fraction of Bitcoin's, so it does have some value, there.  It is also still the top 5 for market cap and has the second highest value per coin of the top 100, only behind Bitcoin.  

[hosseinimr93]

Bitcoin Cash is one of best altcoins with good future. Although, all of coins had been distributed for free, it didn't dead and it can be very profitable. I expect the price to rise very much. But I don't know what is the reason of current price rise.

[eckmar]

Bitcoin Cash is one of best altcoins with good future. Although, all of coins had been distributed for free, it didn't dead and it can be very profitable. I expect the price to rise very much. But I don't know what is the reason of current price rise.

I don't see how it have good future ? It's copy paste of bitcoin with changed settings. Copies are never going to be as good as original that's a fact.

[vit05]

BItmain is only accepting payment using this coin. And some exchange and wallet just started do give the credit to the users.

[Tipstar]

The coin has real backing by large miner and pools like bitmain and viabtc.
And SHA256 miners are active switching between bitcoin and bitcoincash whichever is more profitable.

[tomahawk9]

Why is the value of bitcoin cash going up so much the past couple days? At least half the volume is in South Korea, is there a local factor there that is causing the rise, or is it just a pump?

I don't follow Bitcoin Cash that much, but most of the major altcoins are getting green numbers, their prices are going up but it is true that Bitcoin Cash is the one with highest surge in its price in the last 24h (up +10%).

But I think it has something with how Coinify (Denmark-based bitcoin platform) has accepted Bitcoin Cash to their payment system, meaning that a bunch of restaurants and food delivery services in Denmark are now accepting BCC for payment via Coinify.

[vincentvincent]

aaaaaand dump
https://themerkle.com/bitcoin-cash-price-pumps-starts-losing-steam-as-value-drops-by-70-in-an-hour/

[suvo05]

My all BCH have been sold today!! I got my forked bitcoin cash little late from my wallet so I have missed the good opportunity to sale it. Now I don't want to lost the opportunity this time so all BCH sold.

[alyssa85]

Several reasons. First, if you want to buy the new Bitmain ASIC miners that were released a few weeks ago, you need bitcoincash, because they won't accept payment in any other coin.

Then the Bitpay CEO mentioned that he was considering adding bitcoincash to their payment options. If segwit2x doesn't happen, they'll go ahead, because they are fed-up of the high fees on bitcoin.

[Krishan_94]

I think this is the year most of people get to know about bit coins and start investing on it.. It may be the main reason.. This can be this year buble too..

[rainangel7]

Just saying, this answer was asked more than 4 times, next time search for it here in the forum 

[aroweyen]

I was thinking its just pump and dump but I guess BCH is valuable in some ways

[Berk]

I think this is the year most of people get to know about bit coins and start investing on it.. It may be the main reason.. This can be this year buble too..

Maybe but Bitcoin cash is separate to Bitcoin. Bitcoin cash is likely just a pump and dump coin and it will be forgotten about in a year.

[Bulletdodger]

There was a theory bch went up deliberately to steal the hash rate away from the core, with regards to the soon to come s2x fork.
Who knows what is right.

[alexzorgo]

It is just a total shitcoin. Roger Ver is pumping his toy.

I completely agree. With such capital it is possible to pump any shitcoin. Roger Ver doesn't spend time in vain to reap a crop from newbies. He lures them the speculation

[fedor3327]

BCH never ceases to amaze me. I still have no idea why one would buy BCH and not BTC??

The only reason it can be up is because of speculation. Nothing else.

[Bulletdodger]

Indeed, pnd scheme at its worst. Oh well...