At least that's how I see it. Don't know jack shit about cryptocurrencies, but this seems like basic economy.
Especially tulips that burn through soooo much electricity.
The longer you go on trying to call peaks and slandering crypto as "human stupidity", the more cognitive dissonance will form, followed quickly by the rationalizations needed to dispel it.
Everyone in hysterics about a bubble is every bit as foolish as those shouting about going to the moon. We've had over a year of steady growth punctuated with regular corrections.
Will there be a bear market at some point? Certainly. But the proof of bubbles is in the popping; major price action down to a tenth of the peak or so. That doesn't just happen because of a bull market, it happens in the wake of a major speculative wave or something that fundamentally compromises value.