If you've been involved in this space since 2013 and earlier then you know the cycle and the routine. We always get a bubble right after the Bitcoin block reward halving. It always reaches an obscenely high market cap. Altcoins always flourish during this time with high ICOs and good funding, and this typically lasts 1-2 years before the recession hits.

We have boom and bust cycles but it's not any more of a bubble than the last few cycles were. In fact it is less of a bubble actually, because the rise from $13 to $1000 was a lot bigger than the current. If we look at the total market cap then the rise across currencies is big but not unrealistic.