Bitcoin Wisdom[1] is a great chart to watch for those interested. Very detailed.
(I am not affiliated with BW in any way.)
(I am not affiliated with BW in any way.)
Obviously people with enough money can try to artificial trigger those processes, but what are the conditions for that to work? Maybe the overall trade volume needs to be small enough?
How does an artificially triggered cycle look different from a "normal" cycle?
I suspect going from 100$/BTC to 1000$/BTC as a "pump and dump" would have required a lot of money for pumping?
And now the pack mentality has taken over and the volume is racing up.