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Incidentally, while BTC is up 14+% in the last 24 hours, BCH is up over 27% in the same time frame.
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With
"low" stagnant BTC prices bitmain doesn't have the profits to prop up bcash, so bcash was being priced to go bye bye into the night. Unfortunately BTC going up gives bitmain fatter margins to continue keeping its pet project afloat, so bcash shorts got burned this time around. Gambling on shitcoins being leveraged BTC will burn a lot of "traders".
Interesting theory. Nothing to back it up, but whatevs.
Oh did I say BCH was up 27% in the last 24 hours. I was wrong. It is up over 45% in the last 24 hours.