History doesn't repeat, but it often rhymes. I wouldn't be surprised if we saw a mini rally. Renewed hope and optimism for the price going up because the price is going up. Why are more people buying? Because it's going up. It may have a nice run up to $4 or maybe even $5 before the more sober market participants begin to sell into the strength. Remember that we've got at least two months of mining produce to be sold off to pay the bills (or sold when the price starts to turn). These miners haven't been selling during that period as they would have been selling at a loss (assuming they didn't have 'free' or stolen power).
Enjoy the rising price, use it to make money, and don't stick around too long. It's not fun being the bag holder when the music stops and all the other children have taken the available chairs.
Agreed. Beware the traps.