Six months ago, there was'nt much news about crypto. Folks were seeing it as a peripheral option with limited upside or downside - more as a curiousity or a hobby. This was true for all but the real geeks. Then Bitcoin started to shift in value from a few thousand all the way up to 20 thousand. The upward trend seemed unstoppable. Soon, Bloomburg and CNBC and PBS had experts who had no idea what they were talking about pontificating. Most of these folks were just pulled out the ether (forgive my pun) because the broadcaster had a notion something was happening and needed to find somebody who could say something. Then came the commentators who had even less of an idea about what they were talking about, but needed a "position" or an "opinion." It is easier to say "watch out" than to say "full speed ahead" and then the trend started to gain traction to define bitcoin and other crypto as in a "bubble. " It didn't help that shoddy exchanges and ICO's justified being skeptical. But wait a minute - the crash was from 20K to 10K. Is that a crash when the starting point was 4Kor 5K? Or is it a correction?
I don't know where this new technology and way of thinking about money independently of nation states is going to end. It's like predicting the Russian revolution or the American revolution. But things are not the same after the revolution. "Bubble" may be an outmoded way of thinking about the intrinsic stored value of crowd sourced knowledge and ways of doing business. But I do know that pundits and middlemen thrive on selling polarizing situations where they achieve a sense of value by facilitating transactions that they add nothing to; I mean middlemen in the finance industry; or pundits and commentators screaming about the sky falling when it is in fact 3 times higher than it was a year ago. If that happened in the stock market - how would the data itself be interpreted? It is sad that the media puts forth... not "fake news" .... but a unbalanced self promoting interpretation of news - news that promotes the pundits and doomsayers and demotes considered evaluation of an infant industry and technology.