Thats fairly correct. The current market is in power play where they want to manipulate the rates, make too cheap and get into the market easily for higher profits that will be followed once the price starts to recover back. The manipulation has always been there since the first day. No matter what happens they will do it all the time for their own use. The question is why wouldn't they do it if the market is completely running on public ledger and the very first principle was to use this system freely, with you are the owner of your money attitude. So yeah it is manipulative.