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.
We know how whales influence the market price, they'd play it oftentimes and that is why we could say it manipulation. It sounds like that but living with my trust towards Bitcoin's decentralized form, they never controlled everything in here. I know its hard to believe cause that is actually we've been heard but that is actually their strategies, they only have a capability that it will change and because they'll find out that it helps them to become profitable.