People for a long time called bitcoin bubble, called even in 2013, when it cost 35 dollars. After all, this is an unexplored territory. We still do not know how to evaluate this currency and what will happen to it later.
But bubble is not the thing that has its own ups and downs like bitcoin, for me it is just like on normal market that we know from every day use, price could go up and down, the same like bitcoin.