Everyone wields different powers when it comes to business. Some say that cryptocurrency prices can be manipulated by wealthy individuals. Despite being decentralized, it seems that price movements can be controlled by specific entities.
So, in your opinion, can everything related to money in this world be manipulated? For instance, do you believe that the value of the USD or the largest stock market in the US can be manipulated by a few individuals?
What kind of people are capable of market manipulation?
As you might have heard, they say money is power, so someone who has a lot of it has a lot of power and this power works almost everywhere and on everything, so financial sectors are no exception. When someone has a lot of money, they can buy a very large amount of anything they want to manipulate in the market, they then can play with the price by creating price walls of their choice for either buying or selling that particular item no matter what it is.
When it comes to Bitcoin and cryptocurrencies, imagine someone has acquired a million Bitcoins, and he has put 200k Bitcoins on sale at the price of $25,000. Now, the market will either need to wait for their coins to be sold completely or place their sell orders below that price, and that is how the price starts decreasing as people won't wait and will start selling lower.