Everyone on this thread is suddenly expert on bitcoin and the economy. Can someone counter argue the economist claim about bubble without being biased from either side. Pretty shitty seeing that you all circle jerk about this guy is wrong, this one too is wrong. No one seems to respect the people with different point of view. Again, counter argue the claim without saying "bitcoin is the future", "he/she doesn't know better". This one person seems to get it.
Of course it's in a bubble, it's naive to think that we won't have a massive crash because "this time is different - we have institutional investors". But this doesn't mean that it's bad to invest in it, you can try to do some short-term trading and exit long before the crash, you can try to buy dips and sell them quickly, and dips will happen because there's always corrections in the bull market. Bitcoin is a risky investment, but the risk is justified, so the only thing investors should worry about it so not overexpose themself to it.