If fixed supply can be infinitely inflated (when it comes to price) and thus creating a bubble that can burst, it is not being different from supply that is not fixed.
Example, current Bitcoin price inflated by Tether printer with no real backing.
![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgflip.com%2F8ppmmm.jpg&t=663&c=GVfy8-IWq5ScmQ)
Fixed supply of BTC doesn't matter, when the price can be infinitely inflated by Tether printer.
Example, current Bitcoin price inflated by Tether printer with no real backing.
![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgflip.com%2F8ppmmm.jpg&t=663&c=GVfy8-IWq5ScmQ)
Fixed supply of BTC doesn't matter, when the price can be infinitely inflated by Tether printer.