Yes and no.
With traditional productive assets like equities it is possible to look at parameters such as the previous earnings of the company and the estimated future growth and use these factors to determine estimated values of the company and thus the price of each individual stock. Any significant excess in stock price over a reasonable range of such estimates puts the stock into bubble territory.
Unproductive assets such as cryptos are speculative. You aren't purchasing a future stream of payments but are instead hoping that the price goes up so that future speculators will pay more for your coins. Whilst crypto can be considered to have value through utility (use in protecting against currency devaluations, moving money across borders, privacy for example) it is almost impossible to put a value on such elements, or to determine whether such value will be maintained into the future. As such, the price of most crypto is based on speculation and is dissociated from any fundamentals.
Whether crypto is in a bubble or not is probably the wrong question. A bubble suggests an excess of price over fundamentals, but there are no fundamentals for crypto prices. It is better to say that crypto prices are highly speculative and should be treated with caution.
In terms of the future, my own view is that currently, given the amount of competition, the intrinsic value of many cryptocurrencies could be close to zero. I think that there will be some winners rising from the pack but many will also fall away in a big shake-up over the next year or so. Bitcoin could be one of the winners if lightning networks are widely adopted but equally there could be increased competition from the platforms such as Ethereum / EOS issuing their own payment systems. Interesting times!
This is not financial advice, do your own research, never invest more than you are willing to lose.