When the market is being controlled by literally one deep pocket whale or a small consortium, it's gonna be a while. They will take their time, keep short squeezing and selling into strength until all interest in the market is exhausted. Then they will dump.
Could be weeks before it all plays out. Check back at the end of the year.
Pretty much this. After watching bitcoin for only six months , I am amazed how grossly the BTC market is being manipulated by Chinese exchanges working together with a handful of deep pockets/mining cartels. From fake DDOS claims , to shamelessly pumped volume to front running and insider trading.Trading bitcoin looks like a bad joke right now.I might even state that bitcoin won't succeed without either decentralized exchanges or heavily regulated/audited ones. And I don't think China is keen on western regulation. Just my 2 cents.
Disclaimer: I bought all my coins from May through October this year most of them below $250 and overall am more than pleased with my investment but I am also done hodling for now.