Yep. I was just talking about this with another person in the comment thread. There are smaller booms and busts along the way. It is all relative and really just depends on the time frame that you are looking at.

I really liked his graphic here:

On a side note, you do make a good point about not all of the crypto space being created equally. There are certainly bubbles within the space. I think I am referring more to the top handful of names within the space, as well as steem of course because I think it will eventually be a part of that group.