40% of all Bitcoins are owned by just 1000 individuals.
This gives them a disproportionate amount of control over the market as they are able to dump them at anytime.
This is not to mention the high proportion of bitcoins held by miners and exchanges, who may have perverse incentives to ensure that as many people buy up bitcoin as possible and hold it for long enough for the price to rise.
Is there any way to deal with the high degree of centralisation that Bitcoin has?
no one can stop whales from dumping especially if the price is really too high. For me the best things to do on it is to ride what they're doing, i mean when you see a strong uptrend buy if you're not late then when you see a small fluctuation always execute your take profit strategy, then wait for confirmation to buy again if it will continue to rise, if not then don't ever place another order from it because surely it will make more correction.. Whales always make hype wheb they see it's crowded but not, expect there will be a massive correction that can lead you to massive losses as well. So be smart because no one can really predict when whales gonna manipulate the market..