2010, 2011, 2013 (twice), now...
Bitcoin is almost certainly in a bubble, a short-term one. I think we may be flirting with the Greed phase, but who knows?
Long term, I'm still very bullish - we may still be at "smart money" or the "lunatic fringe" as Andreas Antonopoulos would phrase it, so eloquently the way he does.
In terms of long term investing I think we are some of the earliest investors, bitcoin has not reached anything close to mainstream adoption and I think that is going to take a lot of time, when people finally realize that bitcoin is the next big thing a tremendous amount of money is going to be invested in the market, and when that happens, we are going to take advantage of the opportunity and make a lot of money.
I don't think we're early investors but I also don't think this is not a bubble. The bitcoin exchange markets are stable at least and this makes me happy since I know bitcoin's market price won't de disrupted so much. If we're holders, we'll keep holding until our exit (sell) point.