It all depends on the kind of community bitcoin has. Bitcoin has reached $10.000 and is hitting headlines on all finance media. It's not just YouTubers that talk about bitcoin, or specialized news sites like Coindesk or Cointelegraph, we have CNBC, we have Forbes, we have Financial Times, etc. This causes FOMO (fear of missing out), and a lot of shaky hands will now get into bitcoin. If the majority of the bitcoin community is build with panic buyers, then of course we can see panic sells. I love adoption, and I'm glad people are getting into bitcoin, but I hope they understand what bitcoin is. Otherwise what you said could be true, and it doesn't need to be governments doing it. Anyone who is rich, can try to influence the market and cause panic sells.
Of course that if our community is strong, and well informed, then that cannot happen. They buy and we appreciate, they sell and we just keep holding and don't really care, because we know the potencial of bitcoin, and we still want to use it.
Well said, if the bitcoin community is educated it would make price manipulation much more difficult/impossible.