You are right at few degree , but here I would like to tell you that the dump in the price is not always due to manipulation by the whales but in actual the main factors another are in this field that are big reason of the bitcoin dump and also pump .
Before 2 month ago  condition was very stable according to me , because the main reason was the lots of negative news and funds were Running about the bitcoin , so lots of dump and pump was usual at that time , but now here we can we that last two month was free from any type of the fud and negative news , but right now here we can see that dump us small big because the Amin reason is that bitcoin was assumed by many people will be ban by the government of India , so dump will be big that why people are selling in bulk amount .
And here bitcoin will not get stability until a perfect and clear Result will come from government ( date that was supposed by the most of the people where we will get real Result that Whether govt. Will ban or not bitcoin will be 20july ) .