No, the majority of people responsible for those price increases (and consequent dumps) don't seem to care about using bitcoin or how many bitcoin they have, they care about how many dollars they are gonna get when they dump higher (or how many dollars they get when they close their shorts).
I don't usually respond to troll accounts, but I will this one time. The rises might be from traders who don't really care about bitcoin, but the majority of Average Joe retail buyers would LOVE and envision a future world where the bitcoin they bought not only continues to rise in value relative to fiat currency, but they can also exchange it DIRECTLY for everything in life (goods, services, rent, utilities, gas, food, car, travel, etc.) THAT is what the Average Joe wants bitcoin for, they don't really want to just exchange it back for more fiat currency. That defeats the whole purpose in their eyes.