A man in South Korea explains the Bcash pump and talks altcoins & Bitcoin

From my source on the ground in South Korea:

"Hi Adam,

I have a lot of friends who recently invested in Bcash. I’ve also looked at many crypto forums here in Korea. It is clear that there are many more Bcash and altcoin investors right now than Bitcoin HODlers.

First the general sentiment is of astonishment, sadness and confusion. Many cannot understand why Bitcoin has gone up recently and altcoins (with the exception of Bcash) has generally gone down. They cannot understand how Bitcoin that used to trade at about 5,000 USD some weeks ago and looked ridiculously expensive has gone up to 7,000 USD in a space of a few weeks while Altcoins which seemed “undervalued” has gone further down. I look at the Korean forums and the (technical) analysis done by the forum users and readers is quite laughable.

As for Bcash, there seem to be primarily two reasons for the Korea pump.

First, people are generally very confused about the 2x hardfork. Many people think it is a legitimate technical conflict when it really is an attack on the Bitcoin, full nodes and the core developers. Koreans are not taking sides but many felt that Bcash will act as a hedge against Bitcoin price crashing prior to and during the 2x hardfork. (There is a small minority who thinks that 2x may succeed i.e. new 2x chain will become Bitcoin)

Second is the Jihan Wu factor. It is very clear to me now that many Koreans follow Jihan Wu through Twitter and forums. This is largely because Jihan has visited Korea many times now, done numerous interviews especially through social media. Koreans do not see Jihan Wu is a “leader”, but many believe that he has substantial influence. Many Koreans anticipated a “PUMP” by Jihan especially prior to and during the hardfork. I look at the crypto forums and a lot of the users are explicitly screaming for a “PUMP” of Bcash by Jihan. It is amazing. Unfortunately this is the level of discourse that is going on right now in Korean forums and social media."

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