http://www.investopedia.com/articles/stocks/10/5-steps-of-a-bubble.asp The true question is, where are we right now? I sold my little BTC off when it was $1,800 a couple weeks back. I feel as if that was the Enthusiasm stage. Judging by the flood of new Crypto threads, I'd say the majority of currencies that are skyrocketing right now quickly shot through the Greed stage, and now are in the Delusion stage of the Mania Phase. That bubble is going to burst any minute. Experience: I've seen the Big Short, like, three times.