If it does rally again in the same fashion as you are describing, it will also be headed for a large, deep correction (exactly what happened after 1200). What would be "better" would be some sideways for a while.
We both know that won't happen though.
It will be either:
1 - FOMO re-engages, it goes parabolic, then it dumps and we see another protracted bear market. Some people make a mint, more castles are bought, most lose a shit-ton of money and it results in more damage to trust in BTC and crypto as a whole.
2 - This is "Return to Normal", rally loses steam, more dumps but less risk of a long term bear market and much less damage overall.
We'll know in the next 12h I think.
I'm betting on option 2
Anyone else care to place their bets?
#2 would be the healthiest outcome. I'm hoping for it actually.
I'm also starting to wonder if running up the market is even doable for any protracted length of time. If exchanges are actually running out of coins, then the only way for whales to produce more is to short/dump (force liquidation). Provided that the exchanges have enough coins to short.
If large amounts of fiat want to enter this market, and miners are running out of coins to sell them OTC, they'll have to continually do these "mini-pumps" on exchanges for quite a while, like 6-12-18 months or longer.