Most newbie just wants moon when they buy bitcoin or any other cryptocurrency. If the price goes lower than they bought, they easily panic spreading some false news on the internet. I don't know if they know the risk of it if it only keeps going up, they just think of their profit if the target price they want is achieved. Cryptos are really volatile so it is really hard to say if it is manipulated. Why would someone sell their holdings if they know many are waiting for it to go down and take that opportunity to buy.