I am not concerned with the price manipulation, but of course there is price manipulation. It is a part of the process that is called price discovery and asset maturation. It happened to almost every new asset
I believe you have some technical knowledge or knowledge related to economy because of the jargons you have used. What I know all about this matter is that prices of bitcoin are supposed to fluctuate otherwise people will lose interest in it and it would become similar to traditional markets of gold and silver. There are many factors that manipulate the prices of the commodity such as demand, supply etc.