This Bullshit aint the work of an aggregate market.
This is just a few players with the power to defy all time learned principles of market mechanics, in order to deprive the maximum of unsuspecting punters of their USD and Bitcoins, but mostly USD.
This market is fucked.
The coin / asset is still new.
The market is not regulated.
The volumes are not that high.
Some of the exchanges are new businesses, some are established, however, since it's not regulated you cannot know if everybody plays fair.
Yes, there are a lot of uncertainties which make the market highly volatile and not very predictable on long term. This doesn't make it fake.
However, the money flows around. Some lose, some win. It cannot be that everybody wins. It's just cannot be like that.
If you are rich enough to play high volumes, or skilled+informed to foresee correctly the movements, you can make money.
Else it's indeed safer to stay away.