I have heard this before, and it seems even more relevant now. Because cryptocurrency can be stored in anonymous wallets, it is possible that whale purchasers are manipulating the entire Bitcoin market on a daily basis.
If someone owns and operates hundreds or thousands of anonymous cryptocurrency wallets and uses them to buy and sell small quantities to create the illusion of momentum in one or the other direction, it would cause others to follow in the wake and fall victim to the manipulation.
It's essentially impossible to determine if this is actually happening on a small or large scale though..
What are your thoughts?