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.
In my opinion, we are investors in development phase of Bitcoin, because the earliest investors are people had bought Bitcoin in 2009-2011 or people can buy Bitcoin when the price still around under $250/BTC.