[TooSmugToFail]

I'm not decided either.

One of the scenarios certainly is an implicit regulation of BTC (and with time Ethereum) trading. Currently, I'm not sure the authorities can call market manipulation happening on the crypto exchanges. But with futures being out there, traded on a regulated market, then manipulating the underlying would surely qualify as market manipulation (not an expert on US securities regulation).

But this is just one aspect. I'm wondering how soon it will take for us to see various trading strategies playing both sides of the market (crypto/fiat), and what effect will that have on the price in the short term, and the future of BTC going forward.