Depends if it's a start of a new cycle or if it's a pump and dump by market influencers. It had more than likely finished it's trend downwards and was consolodating and trading sideways nicely for a week or two so it was bound to start back up sooner or later.

If it's a new cycle it'll jump up like this and retrace a bit then keep steeping up until it gets back up to highs of last time. However if you're comparing to USD highs it won't be as much because Bitcoin is way down right now.

I guess that's kind of a simplified statement... now time to run off and try to make some hard decisions. Is it a pump and dump or not?