About the rally itself: I kinda feel that this was orchestrated by a single entity, probably in order to induce a short squeeze. I doubt very much that this was "organic" buying by people who suddenly all decided to buy in unison. Or maybe I'm wrong and it was caused by a bunch of people buying because of the paypal news, but I doubt it...
The rally that started May 20 too consisted of a few episodes of intense buying, 1-2 hour long, that drove the price up by ~50$ each time; separated by "organic-looking" periods where the price just wandered about, often with a downward trend.
Could this rally be the first of another (mini-)bubble like that?
As i said many times in the past (since 2011 bubble), we will have at least 5 bubbles during the price discovery process. So far we had only 3 bubbles, so we got a few more bubbles. During this process, the bitcoin network adoption/development will grow tens folds.
Notice all the idiotic bears in this forum are all registered after the last bubble? 2013 earliest?