I belief (new)whales are building position before ETF, regulation,... so that they are ready for the next "pump"
Read this!
http://pastebin.com/cqM71kesEven if you're a whaletrader(s) that believes bitcoin is doomed and a fad it's obvious that there are enough bitcoin "cultists" to warrant at least one more succesful bitcoin pump and dump so all the factors are met in this market to attempt this.
Now, not all these whales are non-bitcoin believers but they will take the oppertunity to pump the price just in time to "dump" into the buyers that will enter the market when the Winkelvii ETF starts.
Bitcoin is oversold bigtime atm and it will spring up violently.
Perfect storm coming Soon™
additionally:
With bitcoin being such an immature ,new, unregulated market full off noob traders (read early miners) that are inexperienced in financial markets but have lot's off coins the price actions often seem to follow textbook technical analysis patterns so it's really easy to exploit this as an experienced hedge fund manager, forex veteran,...
Combine this with the fact that bitcoin is really in it's venture capitalist fase( huge price swings) before IPO if you would compare it with a "normal" company and compare bitcoin to a share.
And we have the reason why bitcoin is so extreme volatile.
VC investors are used to these swings but the public isn't as the public normally only sees the price of a share after IPO and thus big adoption wich means less volatility.