Bitcoin Cash price jump

What is the reason for a huge price spike of Bitcoin Cash? 
17 October 2017   2091

Bitcoin Cash, the fork of original Bitcoin showing big price jump in recent hours.

Bitcoin Cash price chart
Bitcoin Cash price chart

As you can see on the chart above, huge jump (over 10%) happened only few hours ago (about 8.00-9.00, 17th of October, 2017). At the moment of press, Bitcoin Cash gained 11.33% in less than 24%. Marketcap is $5,813,016,133, and average price is $348.03.

Reason for a jump

So, what is the reason for this huge price spike? Well, less than a day ago, Bitcoin dot com resource released big statement called "Bitcoin Cash is Bitcoin". As a conlcusion, Bitcoin dot com team says that 

The position that Bitcoin Cash is Bitcoin is based on its adherence to the design goals and intended purpose that Bitcoin was created to fulfill.
On October 13, 2017, Bitcoin Unlimited Chief Scientist Peter Rizun announced that their Gigablock Testnet Initiative successfully mined and propagated the first ever 1GB block. Such test results demonstrate that the Bitcoin network can scale to compete directly with mainstream payment processors (10,000 transactions per second and higher vs. Visa’s average 3,000 transactions per second). Bitcoin Cash, with its more realistic approach to scaling, is well-positioned to become a worldwide peer-to-peer electronic cash system.
Based on the arguments presented above, Bitcoin Cash (BCC) is the only fork of Bitcoin that resembles a natural continuation of the original Bitcoin invention. All Segwit chains have altered so many fundamental properties of Bitcoin that it seems a stretch to refer to any of them by the Bitcoin name.
 

Bitcoin.com team statement

We will keep our eye on this situation. So, stay tuned to get the hottest news. 

Dutch Authorities to Shut Down Bestmixer

The service is accused of launder over $200M worth crypto with coin "mixing" - spliting the amount and mixing it with other coins from different sources
23 May 2019   91

The Bitcoin mixing service Bestmixer was forced to cease operations after a nearly one-year investigation of money laundering charges. It is reported by Bleeping Computer.

Like other similar services, Bestmixer.io split the amount in bitcoins into smaller transactions and mixed them with transactions from other sources in order to hide their origin, and then transfers the entire amount minus the commission to the final address.

It also offered similar services with Litecoin and Bitcoin Cash.

The investigation believes that service customers could launder money through cryptocurrency.

Bestmixer offered a very clear page on why someone should mix their cryptocurrency. On this page Bestmixer described the current anti-money laundering policies and how its service could help evade these policies by making funds anonymous and untraceable. Offering such a service is considered illegal in many countries.
 

John Fokker

Head of Cyber Investigations, McAfee

Bestmixer was opened in May 2018. For the year of its existence, its turnover amounted to about 27,000 BTC (approximately $ 200 million). Fiscal Information and Investigation Service claims that a significant part of the funds passed through the mixer was obtained as a result of conducting illegal activities or was used to finance criminal gangs.

Policemen confiscated a domain and six servers in Luxembourg and the Netherlands. In addition, they got access to all transactions carried out using the service, cryptocurrency and IP-addresses, as well as messages from the chat. This information is currently transmitted to Europol.