Recently came across this article that says Jane Street Capital starting to trade bitcoin. Which basically confirms that aside from futures, now (at least) Bitcoin itself getting the interest of the walltreet whales and market makers. I started wondering how will the bitcoin cycle and price action be affected by that? If 5 years ago the bitcoin price action was dictated by the collective mentality of the "new age" retail traders who have been generally bullish on crypto with almost cult like beliefs in the future and some whales in the field, now we have a seasoned wolves wanting piece of the action.
Generally stock market is a game of manipulation. Its possible that the bitcoin price cycles will start to resemble a Richard Wyckoff manipulation cycle that was used by smart money in the past for trading stocks against retail investors. All this of course if liquidity will be large enough to make it worthwhile for smart money to do the trades. This means we no longer will see a dips, mountain peaks and V shape recoveries like we saw in the past.
Wyckoff stock cycles:
http://stockcharts.com/school/doku.php?id=chart_school:market_analysis:the_wyckoff_method
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