Maybe you are forgetting that the liquidity in exchanges is not big enough and it is enough to affect the price generally when a whale kicks in and drive the market hard with a huge amount of their stash. What you do not also understand is that the price you are basically seeing in the market right now is the integration and representation of the average of all the exchanges put together.

Whales are in the market, and they can always tank the market when it is highly speculative actually, and the only thing that would make that impossible in the long run is when it becomes less speculative and then we get to start seeing real life usage.