I am afraid that there is a lot of dumb money in crypto and people who want to get rich overnight. I know of people who sold their bitcoins to buy bitcoin cash at staggering price of 1600USD. I pity them.
And now they (if they haven't sold lower) are forming big walls up there. Someone buying BCH now knows he won't be able to sell much higher for a long long time now.
That's why you never buy into a pump, even if it's a pump done by rich and well-connected people.