I think everyone with at least half a brain knows we are in a bubble. What's the reason of latest Bitcoin increase? 100s of thousands unconfirmed transactions? How about all these crowdsales and ICOs based on Ethereum? All these "exciting" projects? Why DGB is close to 900 satoshi? DOGE? My personal opinion is that the price of a coin (or whatever) should be justified with usage and I don't think that usage of digital currencies has increased THIS much. Don't get me wrong - I'm also excited with the latest BTC increase and everything, but I'm always thinking about the future and now I think it looks scary...
Yeah, to be honest those exact thoughts have crossed my mind as well. The transactions per second rate is awful for BTC, and the extreme fees and slow confirmation times don't make it seem much like a currency at all. It's not suited for everyday practical use. I think most people are looking at BTC like they do gold. As an asset that they can just hold and liquidize at any time they choose. Like I've said before though, the next two years will be huge for BTC and cryptocurrencies in general.