Re: WTF? $20.000.000.000 seem to have been poured into BCH in a couple of days
I get up and see this:
BCH has gone from around $10 billion market cap to $30 billion market cap in a couple of days. Who the hell has some spare $20 billion to pour into BCH? Buffets net worth is around $77 billion.
I dont think this can only be explained to Roger Ver and Jihan Wu going all in on BCH. They must have persuaded institutional investors to get into BCH. Apart from scared people exchanging BTC for BCH.
I will HODL but this is serious.
BCH has gone from around $10 billion market cap to $30 billion market cap in a couple of days. Who the hell has some spare $20 billion to pour into BCH? Buffets net worth is around $77 billion.
I dont think this can only be explained to Roger Ver and Jihan Wu going all in on BCH. They must have persuaded institutional investors to get into BCH. Apart from scared people exchanging BTC for BCH.
I will HODL but this is serious.
Market cap can be a misleading statistic. If bch was worth $1 and rose to $3 that would represent near to the amount of percentage growth of a $10 billion to $30 billion market cap increase. Depending of trading volume and pricing walls that might represent impressive growth. To represent true growth there would need to be a lot of buyers to maintain a consistent market cap without significant price devaluation as the number of buyers diminishes as often happens with many alts on dumps.
That appears to be what happened with bitcoin cash. Its price peaked and value decreases as the number of buyers diminish and interest wanes.