If we are in a bubble then it is just the start, we haven't reach the top yet. Of course every bubble is going to be burst, but then again, we are now in the levels that we haven't seen before obviously so we really don't know how far will this massive run will go, it could be a 6 year bubble or 3 year bubble so it's hard to predict now as we are just starting and it could end at $100k or even more.
Bitcoin is not in another bubble, it still in the early phase of the bull run if we calculate the potential that it might achieve in 2021, probably $100k by the end of the year.
so, it won't get burst but a correction, even 30%-35% will bring it down significantly but the price still holds above $21k.
If bitcoin manages to reach $100k, then the major correction may occur at that level, the history may repeat itself, the price will plummet for 2 years and come back after the next halving in 2024.