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?
If a cryptocurrency has a small market capitalization, its price can absolutely be manipulated by a few wealthy and influential individuals. If it's a big decentralized cryptocurrency like Bitcoin and perhaps like Ethereum, I don't believe its price can be manipulated or controlled. But there's also a difference between manipulating a price and trying controlling the price. When people talk about the price manipulation, they usually mean that something can be done to cause a sudden growth or drop. When the price is controlled, it's usually about trying to keep it steady, to minimize volatility.
Fiat currencies are controlled, but I wouldn't call it a price manipulation. If a strong fiat currency can be kept fairly stable, for instance, that in no way means that it's possible to make its value suddenly increase by 20%, for example. And sometimes things can go out of control, with a currency's value becoming very different from the target value of the authorities. Stable coins are controlled, but again, I wouldn't call it price manipulation. And hypothetically, they can also crash, get out of control.