Anybody with $700 can start mining for a current cost of $2 per bitcoin and sell it for 13 times the cost.
So yeah it's a bubble.
If you could setup a gold mine today and mine gold for $115 an oz and sell it for $1500 oz how long do you think gold would continue selling for $1500 oz.
Wake up
But bitcoins are not infinit, as gold.
As far as we know...