If it looks like a bubble, behaves like a bubble, then there's a fair old chance it's a bubble.
It's a pity as the losers will be the small retail investors, as always
Never, ever invest your cash in something you don't understand nor are able to assess whether it is over or under valued
I was in China at a time when there was a large speculative surge in the Shanghai stock market. People I knew, who had no idea about shares, were piling savings into funds that invested in Shanghai stocks. They had seen people get rich and wanted a slice of the action. They advised me to do the same, on the basis that the market was rising quickly. Not on any fundamental value of the shares. I refused. The market crashed and they lost a large chunk of their savings. Bitcoin will be the same. It's all about timing when you sell to someone who is a bigger mug than you are
There is an story (probably apocryphal) that JD Rockerfeller was getting his shoes polished by a shoe shine boy in the 1920s. The shoe shine boy didn't know who he was and proceeded to give Rockerfeller share tips as the market was booming. Rockerfeller listened to the boy and decided that, as people with no financial acumen were punting shares, it was a bubble and time to get out. He liquidated a lot of his holdings and avoided the worst of the Great Depression
