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.
People are greedy for their personal interest and they will use their power to get what they wanted. This is the reason that they will create FUD to distract the attention of the small time investors to sell their coins and those manipulators will be happy to buy it at cheaper price.