considering this rally is being led by solely by the chinese, i would call it a bubble
No, that is just increasing adoption. More people join the fun, and there will be more to come. This growth it just the rapid but natural growth of a new thing being embraced by many people.
It makes sense that is should occur in bursts, as we are seeing now.
Ofourse, we'll overshoot a bit and then settle down at a new temporary stable value, my guess it will be in the $300-500 range.
Yes, but this is being driven by a relative handful of Chinese, a really really tiny fraction of the Chinese population... if this is the spark that "ignites" the Chinese market, we're in for a hell of a firestorm.
Seriously, I've tried running some "What if" calculations and the numbers just go into orbit, past the moon, intergalactic and halfway to the edge of the freaking cosmos... everything comes out completely unbelievable. It would be "nice" if something would tell me that we're only going to a thousand or two, I can comprehend that.