Getting to the point, bubbles happen when you start buying something just because you think someone will pay more for it, instead of looking at how useful is it for you or for a community of people. Buying something is actually telling the market that they are wrong, and what you are buying is worth more than what the consensus means. This is being contrarian, anything else is speculating and creating bubbles.
Well from your explanation, I wouldn’t even say that Bitcoin is a bubble. Bitcoin is a very good investment and if you look at it in several ways you’re going to see how good it is. Although that doesn’t mean that there are no ways that it has disadvantages, but it’s still worth it.
With that said, I know there will be people who wouldn’t believe that Bitcoin is not a bubble and that’s because they don’t have any clue on what Bitcoin is all about, and since they have understanding of it, they are just going to be making all kinds of assumptions that are totally wrong. But, with time Bitcoin to going to grow, and they are going to fully understand it.