I just came across a paper written by John Griffin and Amin Shams which states that the bitcoin price was being stabilized because of a coordinated price manipulation with tether.
I respect empirical studies but I don't want to believe that. Many have become millionaires because of their investments in bitcoin and other cryptos, which is what attracted even more investors as these new currencies were being adopted by many to conduct business.
I am still a bit puzzled by the results of the study.
I can't see any reason how bitcoin can be manipulated other than buying it by the whales in the market. Cryptocurrencies mainly increase their market value through listing on an exchange which resulting to more investors investing it.