Long John wrote:In the wee hours my brother-in-law, who is a recent entry in the crypto market, texted me: "BCH 2450 go?" Yesterday afternoon he was wavering when it was $1000 cheaper. I knew he was gripped by FOMO, having been there done that myself more than once. I texted back "NO NO NO something not right" with more confidence than I felt, being half asleep and having no evidence. BCH soon dumped about $1000 (got a couple hundred back this a.m.) and BTC has gained about $600. I still have no evidence but it looked like a massive pump & dump. Some very big fish are having some fun with this, at the expense of a lot of little fish, but what else is new?
Edit: For a much more informed explanation.The article cites a much bigger BCH surge and dump than I can see on CMC. Charlie Lee's and Andreas Antonopoulos' comments are interesting.
http://www.newsbtc.com/2017/11/12/bitco ... long-term/
Kudos to you for talking him out of buying a top. Personally, I think BCH has a bright future and I added to my position. If BCH revisits the high, watch out because it could be for real.