I couldn't agree more with just about everything you wrote here. Well said! That point about not everyone owning it yet is exactly why it's not in a bubble yet. Outisde of the people I know on Steemit, I don't know a single person who owns even 1 Bitcoin, not one.
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I tried to convince all my close friends on the merits of cryptocurrency in 2012, when I was ready to risk going most-of-the-way in. Most of them concluded my level of enthusiasm indicated insanity, and distanced themselves gradually from my circle. We're talking master's-degrees+ on average, intelligent people. They weren't even capable of considering the argument without assassinating a messenger with an established record of honesty and forward-thinking (to their experience).
We're still going to see crazy whip-saws in price though. Watch Mark Cuban do a victory lap on this tweet if BTC hits $1500 or less, even for a day.