I wouldn't say so. This whole rally began, because the downwardly lines were broken and the traders have been chasing their upwardly lines since. Until now, at least...
No. 'This whole rally' began because a bunch of Chinese gamblers/exchange owners got together to fleece some starry-eyed idiots. Idiots who wanted to make money in their pajamas
and stick it to
daddy The Man at the same time. With no education. With zero understanding of economics. Vulnerable, susceptible idiots just asking to get raped. Repeatedly.
That might be true, but even so the manipulators definitely capitalized on the whole "the downtrend broke, it's safe to buy now" thing.