I think the thing that will burst the current bubble will be when the fake USD (“Tethers”) filling the market are finally recognised as not actually being backe

I think the thing that will burst the current bubble will be when the fake USD (“Tethers”) filling the market are finally recognised as not actually being backed by fiat reserves. (There's a lot written about this. For example: https://davidgerard.co.uk/blockchain/2021/02/23/new-york-settles-with-tether-a-wrist-slap-with-a-strong-leash/ https://davidgerard.co.uk/blockchain/2021/02/23/new-york-set...)