According to Coinmarketcap.com, the price of bitcoin cash rose from $601.28 at 6:54 a.m. Eastern Time to $623.22 at 7:44 a.m. The price subsequently soon dropped, and it is currently trading at about the same level as it was on Thursday morning.
Bitcoin cash is a fork of bitcoin that was established in 2017 as a result of a community disagreement about suggested bitcoin network improvements. It has a market valuation of around $11 billion, compared to bitcoin's $1.1 trillion.
Many observers of the digital asset markets have expressed concern that they are vulnerable for manipulation. The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) do not have direct jurisdiction over spot markets for digital assets that are not considered securities under federal law. It's possible that whomever committed the fraud benefitted from the relatively lightly traded bitcoin cash price rise on Friday morning.
For bitcoin and cryptocurrency, things are going to get a lot crazier.
I hope you're ready!