Question about Bipolar II Disorder?

Hi guys. I hope you are well. I am 23 years old and live in Glasgow,Scotland.I went to see my GP this morning.You see over the last month i had been experiencing things such as ontop of the world and invincible feelings, racing thoughts, increased energy, decreased need for sleep, reckless spending and increased drive and so on.A year previously i was in hospital with major depression.The Doctor said that this was Hypomania.He says it sounds like i have Bipolar II Disorder although he is not 100% sure yet.He is going to monitor me for a few months before he commmits to a diagnosis.He put me on the mood stabiliser Sodium Valproate.Anyway my question is is Bipolar II a less severe form of Bipolar?Is it a more milder type?Thanks in advance.