Two big bitcoin mining pools have started mining Bitcoin Cash while its price fell down to $682.
BTC.com added Bitcoin Cash mining on 20 August, and Antpool, the world's biggest bitcoin mining pool, followed it by mining its first Bitcoin Cash block #480084.
As of 21 August, the Bitcoin Cash tokens are trading at $682 per coin, having fallen in price by 16.3% per 24 hours. The capitalization of the alternative bitcoin network reached $11.3 billion.
The price growth of Bitcoin Cash began on 17 August, when it was trading at approximately $300. On 19 August, Bitcoin Cash peaked at $996.96.
The explosive growth of the Bitcoin Cash price is due solely to speculation, George Kikvadze, vice-president of the mining equipment producer BitFury, believes. In his twitter, he listed five signs that “BCC/BCH is a massive pump”:
“— one entity mining 95%
— ASW nodes
— NO ONE is using it
— “elementary school level” developers
— ADIBAS.”
5 signs BCC/BCH is a Massive Pump
— George Kikvadze (@BitfuryGeorge) 20 августа 2017 г.
- one entity mining 95%
- ASW nodes
- NO ONE is using it
- "elementary school level" developers
- ADIBAS
Kikvadze also added that a sharp rise in the price of Bitcoin Cash could also end abruptly: “If you are a Chinese entity(ies) pumping BCH, my advice is to pray 24/7 the pump does not collapse... The Ministry of Public Security will find you.”
Kikvadze previously wrote that he sold his Bitcoin Cash funds at $668 per coin, adding that he thanks “all the fools that bought it.”