In the past 24 hours the market has seen an exponential growth of multiple cryptocurrencies. Bitcoin grew for more than 10% with Monero not far behind at 9%, Ethereum at 8% and Ripple at 6%. There are also some less known coins that have been blowing up in the past 24 hours, but most of them are probably just being pumped.
But what has been the main cause for this?
Most likely the Bitcoin hard-fork. Seeing how the value of Bitcoin Cash has been steadily falling for the past couple of days it's safe to assume most people have dumped their Bitcoin Cash and invested into other cryptocurrencies.
But why have we seen such a huge change only in the past 24 hours? Why haven't we seen it happen earlier? Or why has the majority of people decided to take this action at roughly the same time?
What are your opinions?
Have I missed anything?
Do you agree with my post or do you believe there is a different reason for this sudden growth?