For a MUCH more interesting analysis than Mr. Garry Graham's, see this:
Anatomy Of A Crypto-Nightmare: Ripple CEO Is Now Richer Than Zuckerberg
https://www.zerohedge.com/news/2018-01-04/anatomy-crypto-nightmare-ripple-ceo-now-richer-zuckerberg
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I was about to post that Novogratz quote when i saw your comment. I don't doubt we are in a bubble. The piece was supposed to be funny, showing how everyone eventually is correct about a market crash or bubble pop.
People unconsciously create excitement around bitcoin. We are a herd, this is our nature. We ourselves inflate these bubbles and then rush into panic. Some people use this situation. I published an article a few days ago, maybe it will seem interesting to you. https://steemit.com/news/@nsbachurin/behavioral-economics-is-manifested-in-the-crypto-currency-market-feelings-or-intellect
It will crash and then recover it's kinda of what it does lol bitcoin is volatile that's kinda of what it means. Boom-bust but the technology is incredible and crypto will grow so hedge your bets