A bubble doesnt mean it will burst, it just mean there is sharp difference in valuation from a group who is part of the bubble and others outside of that group.

Bubble are only bound to burst if the investor in the bubble expect it grow to a wider extent than what the market tell in the long run.

Many things can be a bubble and either stay stable in the bubble, or grow outside of the initial bubble group.

You can say stamps are a bubble and only have value among collectioners. Or art or many things can be bubblish, doesnt mean it will necessarily burst.

But for the moment, it's clear bitcoin is a bubble, its value is only made by a specific group of investor, and its value is far from being universally recognized by everyone, and there can still be sharp difference of valuation between people inside of that bubble and outside.