For most economic bubbles, one way you can track/detect them via correlated market is signals that diverge. For example, the housing bubble in 2008 was detecte

For most economic bubbles, one way you can track/detect them via correlated market is signals that diverge. For example, the housing bubble in 2008 was detected when rental and mortgage prices diverged greatly. Since the bare-bones value of Bitcoin is tied to the cost of computation power and electricity to mine, you could theoretically track the price of bitcoin vs. the cost of the computational power to mine bitcoin at it's current block difficulty.