Bitcoin price is determined by the few whales who happened to hold since the early days. If they want they can pump BTC to 1M $ and if they want they can dump BTC to 100$.
Doesnt matter who you are, A BTC holder or a daily trader, whales control BTC price.
What I mean by whale? The person who have more than million Bitcoin.
Bitcoin technology is great but Market is compeletly different story.
Why haven't they done it until now ??
The price of BTC is $ 1m, if they could why until now the price is still around $ 7k ??
For the altcoin market I might believe, but not for bitcoin.
Which is a large market capacity in the crypto industry.