Only the bears seem to be ignoring/not understanding the fundamentals, which is why I guess only the bears have been seeing a bubble since the 20s
I'd say I've seen a couple of small bubbles. The thing is that a bubble deflating in the face of an underlying increase can still lead to a positive gradient.
And don't forget, there can be negative bubbles too. Less likely with fedgov running the presses until they glow red hot but nonetheless...
The thing is, there certainly are the right conditions for a bubble. Too much cash with nowhere to go. OTOH BTC is undervalued right now so cash may not be inflating a bubble, just inflating a ball to the right pressure.
This is Bitcoin in my eyes right now:
nah, more like a slime mold:
No my friends, Bitcoin is the Zerg and this is the Zerg Rush!!!