Is all the confusion around the new Bitcoin fork hurting your head? Looking for some guidance on how this whole saga is going to pan out? Is Bitcoin cash going to go “to the moon”? Well, this piece might just make you more confused, because there’s a lot more than meets the eye when it comes to Bitcoin cash’s price spike.
If you had listened to the vocal crypto intellectuals on the Twitter feed leading up to the August 1 split – Bitcoin cash was dead in the water. Everyone was selling BCH-futures for 0.1-0.15 BTC. Naturally, this was the highest price this false impostor fueled by crypto-advocates-gone-corporate was ever going to reach. It was absolutely ridiculous to even consider that people were actually spending their own bitcoins to purchase even more Bitcoin cash!
Bitcoin cash shoots up in price
Taking a step back and looking at the big picture, the crypto intellectuals of Twitter might not be entirely incorrect in their assessment. There’s a lot more than meets the eye to BCH’s near 200% increase in the value. Here’s a short list of what might be artificially (at least more-so than normal speculation) increasing Bitcoin cash’s price: