Bitcoin has a market cap of 70 billion. This is very low when compared with the stock market or the gold market. There are many groups that can buy the total number of Bitcoin in circulation with a price of $4000. They can easily manipulate the market both sides up or down. Bitcoin 70% supply is stored in a very less number of wallets say 5%. Don't you think Bitcoin can easily manipulate and below $1000 is still possible?
Since its more focused on technological rather than economical for me, i will say that it is easier to manipulate rather than stock markets and any other markets who focused on economy, exchange rates, oil and so on. The reason why bulls, bears and whales are just there waiting for the right time that they can profit with the panic sellers.