I'm also doubtful and it looks like bitcoin isn't really decentralized because it can still be manipulated by people who have a lot of money, they can sell and buy like playing market prices. With the fall of this market, I'm sure there are many people who panic and can't be stopped, I personally still holding it but with high anxiety and always hope that this dump will end soon.
Manipulation does not make it less decentralized, we are all in it, and as long as people see the need to buy more, they always will do. But we also have to understand there are some with huge fiat to move the market always in their favor, and they would not have been able to do that, if the market is not hugely speculative in nature, but for now that is what we have and that is what we will basically have to live with.In the long run, may be when we start getting to see the market being used in real life than just being driven by speculation and people who want to get rich overnight, then we will have less of manipulations.
Of course, price manipulation has nothing to do with decentralization. Also to cause panic on the market you do not need to have a lot of money (of course, the more the easiest to do it). The panic we've seen over the past two weeks has been more of a psychological manipulation than a financial one.
