The bubble graph (financial mania) consists of four basic phases:
Invisibility: who has better access and understands the information.
Awareness: additional funds entering, raising prices, selling out, strengthening positions. The media publishes positive news.
Mania: news of a “lifetime opportunity”. Explosive growth, irrational inference, uncontrolled flow of enormous amounts of resources, followed by a sudden change and the agony of decline.
The moment of enlightenment: non-rational trust is transformed into a paradigm of perception.