We are seeing more and more futures exchanges becoming popular, bitmex, okcoin, huge daily volume. I can be sure that whales are profiting from the futures trading market by manipulating bitcoin prices.
Its too hard to want a bull market, even now the price is low. Bitfinex doesnt buy Bitcoin again.
The current market situation is that the whole sea is full of whales. So there will be no bull market in 2020. Whales will continue to profit on futures.
You have made some good points and I think the whales are really benefiting from this market. If they are not benefiting from it why notting is been done to pull back bitcoin to were it is in 2017. The cryptocurrencies market is currently in a bad shape and I do believe that some people are profiting from it. However, 2020 is still far and we are to wait for that time to know if there is going to be a bull run or not as new cryptocurrencies investors are coming into the market. Let them "continue to profit on future"