as i said back around 1800 or so, BUBBLES!
this is crazy territory. play at your own risk, and don't be surprised when it snaps back violently.
I agree that we are in crazy territory, no matter what, .... but the level of craziness depends, partly on what you are referring to as a bubble... Bitcoin? or various alt coins or some combination?
There are different levels of craziness... and in that regard, we cannot always know the extent to which one is a bubble or not, until it pops...
At the moment, looks like pretty decent buying support - but yeah, that could vanish quickly too.
I do agree... when Bitcoin does a 2x in less than 24 hours as zcash just did, or a 75x in a coueple of months just as Ripple did, or a 40x as Bitcoin itself did in 2013... then let's talk about bubble. Until then let's just call it healthy moderated growth.
We agree.
In regards to bitcoin, people talk bubble bubble bubble bullshit ever since $500 - but seem to forget that the price was on a downward correction for a year and then flat for nearly another year. And, then when it finally went back up, it has taken nearly 2 years (well 20 months)... sure there are some really decent arguments that can be made that we are due a meaningful and large correction, especially since we have not really had one since $890 - but on the other hand, such large correction is not an absolute necessity either -
Maybe if we do another 2x within the next month or two, I may among the front of the line calling a bubble at that point, but at this point, we are a bit premature to call BTC bubble. Now, other cryptos, that's another story.. a large number of them (in including ETH) have little to no fundamentals. I will concede that ETH has some stronger fundamentals than some of the others, but it remains a kind of smoke and mirrors and a house of cards that could fall at any moment - but it could also get pumped another 10x to be even more unsustainable when it becomes targeted for a hacker attack or some other kind of DAO like robbing that will cause the insiders to want to hard fork it again and cause additional issues related to centralization and money being controlled by ETH committees.