there is no cryptocurrency bubble. the dramatic rise in valuation in the crypto space is a normalisation of the bubble occurring in fiat.
that is to say, crypto’s upward slant, somewhat reflects the downward slant of fiat, though only mildly. for bitcoin to properly reflect its natural price you’d need to divide the number of dollars in the world by the number of bitcoin in existence. at that price you might have a stable bitcoin price, but probably not because by that time fiat will have completely lost all trust and should inflate to zero
I talk about this path in my Medium article: BTC Ad Astra – erick calder – Medium
