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10fold = Bubble?
(what do you say 'bout China?)
No, the following chart is NOT Bitcoin and also not the GDP of China between the years 1990 and 2005. Both of which increased tenfold within different timeframes. Bitcoin rose from 500 USD to ca. 5,000 in a couple of some quarters; Nasdaq:
You can go on and now try to compare the development of the Nasdaq Stock-Index above (.com Bubble) to the rise of Bitcoin from a "similar level" of 500 up to 5,000 in the following chart (XX:NYXBT stands for the Bitcoin-price in USD):
Everything that is rising by 1,000% is not -by itself- a bubble! (at least not right away)! Of course a bubble could develop, but one needs to have real knowledge about the underlying factors which are driving such a (abrupt) surge. If markets were really efficient, how could this then happen? Well, disruptive forces can have unseen power to change an outdated system (?) in a relatively short period.
I do not want to judge here, if the established system in China before 1980 has been extremely outdated, but there are lot of factors telling us, that the old chinese system before was not the most efficient system for the people, the economy and society.
Disclaimer: Ralph Gollner declares herewith that he is indirectly invested in Bitcoin via certificate(s) - as per 16th Sep. 2017.
