We present an analysis of the RXTE observations of 4U 1630-47 during its outburst of 1998. The light curve and the spectral evolution of the outburst were distinctly different from the outbursts of the same source in 1996 and in 1999. Special emphasis of our analysis was on the observations taken during the initial rise of the flux and during the maximum of the outburst. The maximum of the outburst was divided into three plateaus, with almost constant flux within each plateau, and fast jumps between them. The spectral and timing parameters are stable for each individual plateau, but distinctly different between the plateaus. The variability detected on the first plateau is of special interest. During these observations the source exhibits quasi-regular modulations with period of ~10 - 20 s. Our analysis revealed significant differences in spectral and temporal behavior of the source at high and low fluxes during this period of time. The source behavior can be generally explained in the framework of the two-phase model of the accretion flow, involving a hot inner comptonization region and surrounding optically thick disk. The variability and spectral evolution of the source were similar to what was observed earlier for other X-ray Novae. We show that 4U 1630-47 has a variety of properties which are typical for Galactic black hole binaries, both transient and persistent. We argue that this system may be an intermediate case between different groups of black hole candidates.
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