Bitcoin Cash soared overnight, spiking as high as $569 (from below $300) as renewed uncertainty around Bitcoin re-forking, reports that the first 8mb block has been mined, and fears over further crackdowns in China on Bitcoin trading sparked demand for the forked currency, pushing it back up to the 3rd biggest cryptocurrency by market cap.

As CoinTelegraph reports, Bitcoin Cash has jumped 75 percent in value in 24 hours after the fork mined its first 8mb block. Reacting to additional uncertainty surrounding a further Bitcoin split and a suggestion Bitcoin Core may fork, prices have spiked to as high as $569 this morning...

The uncertainty stems from concerns that Bitcoin will create a 3rd virtual currency (via Axios)

Just a few weeks after bitcoin announced that it was splitting into two separate entities, the initial version of bitcoin and its new "bitcoin cash," the network is adding a third version, per Motherboard.

http://www.zerohedge.com/news/2017-08-18/bitcoin-cash-soars-70-overnight-amid-bitcoin-uncertainty-china-crackdown