Guys, can anyone explain to me with a lot of details what the hell is going on right now with Bitcoin Cash? $1200 then $3000 then back again to $1400 in just a a few hours?
Simple versions is a pump and an attack on btc.
Longer version.
The whole thing was quite timed, I'll give the btccash shills the prize for this.
First while most hardcore supporters of btc dumped their coins at 300 -500 levels they silently bought and bought, taking more coins of the market, preparing the pump.
Then when the segitx2 was cancelled they saw the perfect moment.
The propaganda began, that btc won't scale, a spam attack on he chain filling the mempool driving up the tx fees and miners switching to bcash exactly after a difficulty adjustment so that the bitcoin chain will slow down by almost 25% for almost two weeks.
After that a few known names (probably well paid) started a tweeter storm of bcash is the real coin, then more propaganda on the flippening , which as you can see turned into the fappening.
Then the dump began, the bcahs crew unloading btc and using the funds to buy bcas hand fuel their pump.
And guess what? The sheep felt for it. There was also a dump done by them but also by a lot of noobs in full panic retarded mode.
And the same noobs bought a lot of bcash at 2000+ prices and now are held captive till the next pump.
So, relax, enjoy your sunday, and in the name of god, please stop panicking.!!!!