The answer is so simple. Hilarious to see so many answers saying something about some sort of “8MB block” being mined or whatnot..
The answer is in essence, as Gil Eyal stated, being manipulated. And it’s already visible with your own eyes who it is. Try searching up the Bitcoin and Bitcoin Cash exchanges and look at the volume trading. Basically, who are the ones actually buying Bitcoin Cash right now.
Basically, ALL of it is coming from the Korean Bitcoin exchange. Korean financial institutions are literally PUMPING UP Bitcoin Cash with billions of dollars in hopes to jumpstart a Bitcoin Cash bear market.
So, from there, I’ll let you devise the reasons on why certain financial institutions are for some reason suddenly pumped billions of dollars into Bitcoin Cash literally overnight into an “awkwardly new” high price.