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?
There will probably be various theories. I can offer mine.
A lot of new money has come into the market, fuelling the rise of bitcoin. Any time there is a rally this big, people start thinking about profit taking. People are hesitant, because they don't want to sell and miss further price rises, but when a serious dive starts to happen, the "weak hands" or people who are not particularly committed to bitcoin (usually true of the new money) start to panic and dump. This is standard market behavior.
On the side of BCH, the cancellation of segwit2x means a golden opportunity for any whales (or whale syndicates) that have been planning a pump of BCH. All they have to do is start shifting large amounts of funds from BTC to BCH to trigger a rally, wait for the weak hands to panic and jump ship, and then dump their BCH with a tidy profit. Pretty standard stuff.
If you want stability, buy fiat. It will continuously and steadily lose its value as you get quietly raped by central bankers and their buddies, the private bankers. Guaranteed.