Jihan and Roger ver were though to be manipulating Bitcoin cash because of segwit2x not happening the way they want it to this is an opinion of the staff at bittox. That doesnt seem to be the case now.
One of the research groups came out with information that said to buy Bitcoin cash up to $1,000. That is also price manipulation. We can’t say which one for legal reasons. That is why Bitcoin is dropping and altcoins are dropping. People are taking their money out of Bitcoin and altcoin stew put into Bitcoin cash. Things are evening out right now as we speak. A correction has been made things are now back to gaining what they were before. This is definitely manipulation that is happening it’s a quick cash grab. We don’t see this affecting things in the long run.
We will give a quick rundown on the current state of BCH. There are traders shorting BCH on Bitmex, and many different groups warning to sell. However, miners that were previously backing S2X have shifted to BCH. Many of you may have seen an article about large groups claiming BCH is the new BCH. It was publicly denounced by Jihan Wu himself. We think this may be an organized pump by some big players. Doji has formed on the BCH chart. Reminder that the BCH fork is also on the 13th so it is possible it will just keep going up until then.
We recommend to proceed cautiously.
Update: This is most likely not an organized pump by bigger players. Based on new information, BCH is most likely going to continue to shoot up at least until the fork on the 13th.