RE: Hype and FuD are two characteristics of the Stock Market and now cryptocurrency like bitcoin now.
You're right: no-one knows how far cryptocurrency will go and how much value it will add.
The same thing was true for Internet 1.0. No-one knew how much the world would change or how much value the Internet would add.
That's why bubble talk, except as a cautionary, is beside the point. Tech bubbles inflate and deflate because we have no way of knowing how disruptive an innovation will be until after the fact.
So in a very real way, we're fated to go through a cryptocurrency bubble. There's no other way to perform price discovery.
The good news is that early adopters - if they HODL - will end up with big profits even at the nadir of a burst bubble. So long as they HODLed, no-one who bought Amazon stock in 1997 had real cause to regret it: even in 2002, they still had at least a triple.
I think " bubbles " occur in everything. It is human nature when 90 % of people are simply followers. Who really knows the true value of anything since there is literally no way to compare an Orange to a Lemon for instance . . .
Personally the 0.01 % interest rate on many bank accounts is obviously a BUBBLE ! ! !
At 0.01% APY (a typical savings interest rate at very large brick-and-mortar banks), you'll have $5,002.50 after five years. At 0.09% APY (a hair above the national average), you'll have $5,022.55 after five years.
How awesome is that ...
At least crypto for the most part is not a " rigged " ' gamed ' system , now at least average honest people have an open market space they can adventure in ! ! !
/ hugs ;)
[ The only Good Politician is a Dead politician ] ...