You can view Bubble as the 5 wave of the Elliot wave principle,
https://en.wikipedia.org/wiki/Elliott_wave_principle , when the market is about to reverse and start the dump period:
Wave 5: Wave five is the final leg in the direction of the dominant trend. The news is almost universally positive and everyone is bullish. Unfortunately, this is when many average investors finally buy in, right before the top. Volume is often lower in wave five than in wave three, and many momentum indicators start to show divergences (prices reach a new high but the indicators do not reach a new peak). At the end of a major bull market, bears may very well be ridiculed (recall how forecasts for a top in the stock market during 2000 were received).
But Bitcoin is just on it's infancy on Wave 1:
Wave 1: Wave one is rarely obvious at its inception. When the first wave of a new bull market begins, the fundamental news is almost universally negative. The previous trend is considered still strongly in force. Fundamental analysts continue to revise their earnings estimates lower; the economy probably does not look strong. Sentiment surveys are decidedly bearish, put options are in vogue, and implied volatility in the options market is high. Volume might increase a bit as prices rise, but not by enough to alert many technical analysts.
But some would disagree with this view because Bitcoin has limited supply and anti-inflationary properties but in the end if supply is limited demand is unknown so Elliot waves principle could be applied !