Yes it is a bubble. It is natural to have boom and busts in a capitalist system. However when it bursts bitcoin will go down relatively more than the other assets because it has shot up way faster than everything else. 3x in a year? People are delusional if they think any asset can perform like this indefinitely.
With that said, this doesn't affect the long term prospects of bitcoin. If you believe the technology these price fluctuations won't worry you. But it is slightly concerning to me that many people seem to blindly say "bitcoin is not a bubble" implying that it will never go down. This is simply not true and a lot of people are going to get burnt with this attitude.
You are right , but it depends on how you look at it. Some people really like the tech and the idea behind btc so bubble or not they will not care.With that said, this doesn't affect the long term prospects of bitcoin. If you believe the technology these price fluctuations won't worry you. But it is slightly concerning to me that many people seem to blindly say "bitcoin is not a bubble" implying that it will never go down. This is simply not true and a lot of people are going to get burnt with this attitude.
Then you have the investors who are here to make money , but they need to realise that what goes up will go down bubble or not.
