It's completely possible for Bitcoin to be in a speculative bubble but also not overvalued. I'm somewhat bullish on Bitcoin, but there's no doubt that there's

It's completely possible for Bitcoin to be in a speculative bubble but also not overvalued. I'm somewhat bullish on Bitcoin, but there's no doubt that there's a speculative bubble -- people with no knowledge of Bitcoin other than its price history are getting more and more eager to invest to ride the wave. This is the definition of a speculative bubble. The main question is what side of the bubble we're on -- where are we relative to the point where Bitcoin has passed its fundamentals.