We keep hearing of people screaming about "Bitcoin is in a bubble!", and comparisons with "Tulip Mania". As if they had been around when it happened.

Assuming that BTC is indeed in a bubble, here are a couple of facts learned from various "bubble events" in the past. Including the Tulip Mania:

(1) No one knows what the peak is.
(2) Many people had made a lot of money, and kept this by not being too greedy.

As for #1, BTC might now be very near its peak and it will be downhill from here. HOWEVER, this might just be halfway, or not even a quarter of the way yet...which means it has a lot of legs left. That's how it was when BTC reached $1,000 and many so-called financial experts and analysts had screamed "Bubble!" and how stupid buyers of bitcoin are.

Most of these detractors share a common feature - they had failed to buy bitcoin (or just very little as compared to their resources) and are now full of jealousy and regret when they see it reaching $6,000. The Sour Grapes.

They want bitcoin to fall off the cliff. Just so they can comfort themselves with "See? I was right". (And conveniently ignoring the fact that many people would still be in the money as per fiat even if bitcoin were to tumble to $1,000 today)

I was one of them. Smugly concluding "It's in a bubble and will crash, for sure" every time it created a new high. Fortunately, I later learned the truth about previous bubbles and decided to be more open-minded about cryptos.

The correction in late June to mid-July 2017 was an opportunity for me - I got in at around $2,000 and had been adding to that gradually with money I could afford to lose without getting into any sort of financial trouble. I'm way in the plus right now but I'm being cautious about it - if there are indications things are going sour, I will cash out most of my BTC and get into precious metals. But that time is definitely not now.