You are viewing a single comment's thread from:

RE: Bitcoin Hits New Combined All-Time High Above $3,000 After Bitcoin Fork

in #bitcoin7 years ago

Something strange is going on. Bitcoin Cash trades much higher on Bittrex than on Kraken. The BCC/BCH trade pair puts the price of Bitcoin at $1700 or so.

What I think is happening, is that all the Bitcoin Cash miners are dumping their Bitcoins and using it to buy Bitcoin Cash, thereby driving the price up. This theory makes sense since Bitcoin Cash supporters are from Asia and Bittrex caters to Asians whereas Kraken has more western customers, and as such the price on Kraken is far lower by hundreds of dollars even.