I agree with that. My point is that all the manipulators are pretty experienced and are aware of the market mechanics. They also are familiar with all the tools and tactics that are at their disposal to move the prices in their favor or for their purposes. However, non of that manipulation is possible if you don't have other market participants, naturally. Most of the "other" market participants are the ordinary investors who are buying into the technology of the future and hoping to make some decent gains along the way. Just like it happened with the CDO melt-down a decade ago - the institutions are using their clients' money to move the markets and in most of the cases it is their own clients who get hurt by the volatility they are causing with their actions. Again, they are able to take both sides of the bets and rake in their bonuses for the performance they achieve on the back of their own customers. Anyways, these discussions are never simple.
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with some luck, we will know in a few years what really went down. this will test the transparency of the system.
Agreed. Let's hope for that the true intention of blockchain based economies survives!