Last few days BTC was oversold. The depth of the markets shows that the demand is rapidly increasing. Moreover at least 1/3 of the miners switched to BCH which is more profitable by 50%. I expected the price would hold during the weekend and probably go up in the next few days. Who knows, may be another ATH is coming?
Since Ver/Wu/Wright own 97% of BCH mining, they can do the following:
1. Mine BCH, wash trade, and accumulate BCH on the down low
2. Switch mining hashrate from BTC to BCH
3. Pump BCH, lock up mining blocks, trade BCH for BTC into the pump
4. Switch hashrate back to BTC, pump BTC
5. Sell traded BTC into the pump, or just hold on to it (making them wealthier).
6. Profit
I contend that BCH is still just a money making scam to them. Sad that anyone would fall for that garbage. They don't want BCH, they want your Bitcoin. You'll see all that here soon, when you see BCH drop and BTC start to rise again.
And don't think for a second that their little operation isn't being "subsidized" by outside elements.
