Tax implications.
If the top is this December and you are regulated to give a cut to your government, then you need to give that tax, very soon.
But, if the top happens between January to March, then you have an additional year of using that tax before turning it over to the Government.
Example:
You will earn $1M at BTC top. It happens this month. Your tax rate is 30%. Then, you will need to pay $300K to your government. Now, if the top happens by January, that $300K is still yours for a year.
Remember, whales are the wealthy guys and almost all of them follow regulations. Tax regulations were not there in 2017.
And now that we have tax regulations, it is then worth it for them to manipulate the price and force it sideways this month.
A 1-year use of the tax from their earning is big for these wealthy guys.
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