What if somebody will make a huge dump and sell it all the way to earn some profits because of this rally in bitcoin,and someone sees it and do that same thing. Is there any effect on bitcoin when someone to this,?
Since the 1st August crash I can say that the price hasn;t changed too much since that time but I would not count this as a panic selling as when this happen the price goes only down as it was in 29 July - 1 August but it didn't stay too long there and the price is more stable now but needs to be increased soon.
The bitcoin price is actually dropping slowly after the Bitfinex restarted the trading. People are selling bitcoin to buy other coins.