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?
If me i will accept it, not want to force or think about something bigger than what i can do. If whales want to pump bitcoin then i don't have other choices to follow, if i have coins then i can sell it. If they dump coins and i still holding some, then it is time for me to be patient because someday they will pump it again.