It might be to fast. On the other hand, it’s about time. I’m just looking for signals that it’s a bubble.
The most obvious bubble move hasn’t happened yet, as far as I’m aware: direct USD printed to buy crypto. We had that in the housing bubble but not so much in the dotcom bubble, so it’s not a perfect indicator.
The mechanism for the federal reserve to support a bubble directly requires decades of infrastructure. This is the purest form of malinvestment.
I can imagine a method to launder fed printing presses into crypto, but each step has to unwind when the time comes, which delays the burst a little each layer.