I don't think we're in a bubble... yet. It may turn into one, but while from the outside it may look like Bitcoin is a bubble, those who are familiar with crypto know that for Bitcoin it is just business as usual.
I think we can start talking about Bitcoin being in a bubble if for some reason it manages to grow to USD 20k,- by the end of the year. Than I too will be onboard with the bubble pundits. But until then I see it as an upward correction of an asset that has been largely ignored and undervalued the last few years.
Note that I'm not saying that the bull market will continue indefinitely. The market will turn, probably sooner than later. But with current valuations it likely won't be as spectacular and dramatic a correction as the bubble pops of early Bitcoin.
that is the issue i have with these arguments!
a bubble doesn't have to be huge,
it doesn't have to be devastating,
it doesn't have to take long to burst,
it doesn't have to be tulip,... bubbles,
,...
a bubble can be a small one too. a bubble that bursts just as fast and corrects itself during a short lived bear market for example. it really doesn't have to be the asset losing more that half its value or going to zero just to call it bubble.
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I agree with your sentiment, but I'd say that's simply how a bubble is defined -- huge and devastating with a build-up that lasts longer than is healthy.