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,?
It would depend if those "somebody" holds a lot of Bitcoins. Just remember what the Bitfinex hack has caused us. We were slowly increasing and then it stopped and dropped really hard. Right now, we're still recovering from that.
Its better not to get panic when price drops, we need to have faith in the ability of bitcoins, as it has fallen many times in the past but again we saw major rise in the price of bitcoin.
Panic time is actually a good time to buy the bitcoin. The bitcoin price will rise in the long term as it is developed continuously.