Seems logical for a large holder currently investing in a startup bitcoin fund would want to keep a market moving sideways so when the fund starts it is easier to attract investors
I love speculation
thoughts anyone
My impression from the charts is that, since May/20, most traders would push the price down, but a few traders keep it up by a series of isolated buying spurts. These could be fund owners trying to lift the price to the 500--600$ level and keep it there.
Funds (all of them not just GABI) need to convince their clients that bitcoin price will go up faster than other investments. But they would need some pretty good arguments to overcome the bad impression that clients will get from looking at a daily or weekly price chart. (They need also to keep from clients the fact that the price is still sustained by the demand of Chinese daytraders.)
Keeping the price stable would help. It may also make the SEC slightly more inclined to approve COIN.
But I suspect that the May/20 mini-bubble and the subsequent relative stability will bot be enough to impress clients and the SEC. On the other hand, those buying spurts should add up to a lot more than they could earn from fees.
Fund owners can profit a lot more when the price drops, because they can sell the coins at a higher price before the client liquidates at the lower price. So perhaps they have pumped the price to the current range to play that trick, and will let it drop back to the 400$ range or lower once they have sold enough shares.