Of course the price is controlled - very large wallets! People who invest in crypto currency are well aware of this market, they come from classic exchanges and funds! for these people to manage the crypto market is just a child's game! The crypto market is very young and cannot yet become fully independent!
Most of the time in history before market gets manipulated what comes first is that some of the exchanges first get manipulated by putting fake order (buy and sell orders) and then making panic to people to sell or buy because exchanges have direct impact into the market price and so the price changes to often in a very short period of time.