Not trying to disagree with you overall, but the thing that always bothers me about the tulip bulb analogy specifically (or beanie babies, comic books in the 90s, etc.) is that tulip bulbs and beanie babies did have underlying value. A lot people wanted to own them because they were in some sense fashionable objects. The demand brought in speculation and when it faltered because of changing fashions the bubble burst.

No one is buying bitcoins to put them on a shelf because they're pretty. As long as Bitcoin goes up or serves in some sense as a financial reserve it's probably not going to "go out of fashion."

Of course Bitcoin may still be a bubble, but it would be a bubble for different reasons.