If an entity is large and powerful enough, is it possible for it to gain a monopoly advantage and manipulate the rises and falls of the virtual currency market?
It's not just possible, it's being done all the time by whales who own large volumes of cryptocurrencies.
The way I see it is that they create panic and thus make people sell their coins at low prices. Then whales buy those coins back and pump the market.
Isn't that manipulation?