There is no depth in the market probably. No walls, no supports. That's why it is being manipulated easily. Simply there isn't enough volume in the market to resist whales with big wallets.
Agree! At the moment, this is the case. Hopefully with more and more people joining, we will see less people with big wallets (they will sell when price is good). With that the volatility will gradually reduced. I think we are seeing that happening slowly.