The framing of Bitcoin’s nay sayers is wrong. These are mostly guys who’ve spent their careers looking at asset curves. You need to ask whether Bitcoin is following an asset curve, or a technology adoption curve.
It seems self evident to me that it’s a technology adoption curve, with some signs of an asset curve like profit taking and panics. Over the long run, technology adoption will be the more significant force.
The “bubble” chorus is wrong. They disregard the utilities of crypto currencies, not the least-of-which is the re-privatization of money. It’s like saying that the price of Samsung Stock is a bubble, without linking it to the tremendous utility of smart phones.