The ones doing the killing with arbitrage are the ones with inside trading information, in other words... china itself, which are the only ones that knew the news would come out.

The rest of the people are just gambling hoping that they can get in and out of their trades while multiplying them with leverage. A lot of shorts lost money when BTC recovered, then they bought and it went down back to $4000, now it's recovering again...

There's no other way to win but buy every dip and hold long term, that's +5 years. Then you will really have life changing money.