1. Yes it is a bubble. Bitcoin has formed bubbles again and again throughout its existence, and this is no different. Its price has risen nearly 300% in 3 months. The value of bitcoin has not increased that fast. It cannot rise at this insane rate forever. It has far overshot its intrinsic value and will come down to reality. That being said, it still has room to rise before it falls. I predict $4k-$5k before coming down to $1200-$1500.

2. Buying bitcoin now is very risky and, in my opinion, foolish. The reward does not outweigh the very high risk. You can buy now if you want to gamble, but just know that you are not investing - you are gambling.

* Also note that you are asking whether you should buy bitcoin in a forum full of bitcoin lovers, most of whom own bitcoin. They stand to gain personally by getting you to invest in bitcoin and help push the price up.