BCH's rise is some clever whale manipulation mixed with luck but long term it's going no where as a coin.
I think this pump has been triggered by a happy coincidence and some cynical players: the first 8MB block was mined this week and mining difficulty is also about to halve.
Pump scheme (also remembering that BCH creators control most of the mining activity on the network):
1). Announce an 8MB block has been mined for the first time ("validating" their tech works - which is stupid anyway, of course it was going to work)
2). Pump the price just in time for the weekend (which is usually a bearish period and when newbie speculators are most jittery)
3). Remind everyone that mining difficulty is about to halve just as the price per coin is shooting up
4). Watch as people panic buy BCH to get in on the pump over the weekend
5). Dump whatever BCH they haven't already sold on the way up sometime next week or the week after and enjoy the last massive profit before BCH craters in to a dead coin
I think this pump has been triggered by a happy coincidence and some cynical players: the first 8MB block was mined this week and mining difficulty is also about to halve.
Pump scheme (also remembering that BCH creators control most of the mining activity on the network):
1). Announce an 8MB block has been mined for the first time ("validating" their tech works - which is stupid anyway, of course it was going to work)
2). Pump the price just in time for the weekend (which is usually a bearish period and when newbie speculators are most jittery)
3). Remind everyone that mining difficulty is about to halve just as the price per coin is shooting up
4). Watch as people panic buy BCH to get in on the pump over the weekend
5). Dump whatever BCH they haven't already sold on the way up sometime next week or the week after and enjoy the last massive profit before BCH craters in to a dead coin
Exactly. We've seen such pump&dump schemes many times before with other altcoins. Poor newbie "investors" who buy in during this artificial hype. This spike is pure speculation and speculating on BCH price is no better than speculating with any other altcoin. Maybe except that some other altcoin have real development news and provide some improvement over bitcoin. When SegWit will be running, BCH will only provide some de-provement
