I'm sure the naysayers will come up with yet another narrative for why the next bubble is "fake" too
The most important thing is that it should be in the first place
Fake or not, as long as we can make dough, it's okay with me (more or less). With that said, though, what makes you think that the previous bubbles were not "fake" enough? Willy the Bot or Bitfinex the Tethers doesn't cut it, or what? Ask me and I'll tell you that any bubble is inherently fake. Also, I've heard rumors that a certain NYAG is looking into this matter now, apart from the two class actions filed on essentially the same assumption. Or should I better say accusation? As they say, what goes around comes about
Yes, exponential run-ups are always "fake" to some extent because after certain point like 40% of the slope people turn their thinking off. First it's all about analysing the charts, not going all in, taking profits, but once it's up 500% and you were taking profits every 50 you go all crazy. I'm not saying "you" in particular but most people. They sell their houses and take loans to get more money to exchanges thinking that it's going to be up 100% next week and then another 100% after that.
Does that mean we shouldn't count all time highs? No. Does that mean there won't be another ATH? No! Fake doesn't erase that it happened and that it will happen again because of how people are.