@pooya87. The past 11 years? Bitcoin was pumped by Mtgox allegedly to its all time highs of that time and it was dumped. 2017 saw another pump by allegedly Tether printer Bitfinex to another all time highs and it was dumped again.
there is a big difference between a bubble and a pump and dump. what i meant by the past 11 years was the overall price movement in comparison. bitcoin goes up in the end no matter what it does in the middle but altcoins go up then down back to where they started and even lower hence their pump and dump.
in a pump and dump, price goes up lets say from $10 to $20 but since it is "pump" it will come down to $10 and then continues going lower to $9->$8->...
in a bubble price goes up from $10 to $20 but since it is a "bubble" it pops and price comes down to $15 and after a while that the bear market ended it continues going back up $16->$17->$20->$25
it would look like this: