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.
Agree with you, it is manipulated by many whales, who has been waiting for bitcoin to more dump for them to hoard many more, they are the ones who is manipulating bitcoin to pump too, there is no doubt about it, and we need to accept this fact, if they want to make a coin to be pump they will put a high price order and then they will dump too if they want, they are the one who builds large walls too.