For everyone saying Bitcoin is a bubble and ready to pop, I respond with the following…

What pops bubbles, are two things: 1.) A reduction of liquidity (the Fed choking off the flow of cheap money, for example). 2.) A sudden lack of new investors to dive into the market and drive prices higher.

I think the Fed will stay easy for a while. And, so far, there seem to be plenty of new investors. So we can conclude that "the crypto-bubble will continue until the Fed and other central banks remove too much liquidity from the economy, the availability of new investors decreases, and the bubble deflates.

I also think that those who dismiss all bitcoin speculators as fools often miss what might be described as the "speculative math." If bitcoin goes to zero, you can lose 100% of your money. That's a lot. But it's also all you can lose. If bitcoin goes up another 10X, or 100X, or 1000X, meanwhile, you can make 10X, 100X, or 1000X your money. For those who understand this — and, importantly, take care not to bet more than they are willing to lose — these return odds are attractive. So, enjoy the bitcoin bubble while it lasts!

Note: information taken from various sources.