it is more accurate and quicker to find a reason for bitcoin beeing valued at what it is valued at right now, or why should it be valued higher.
i dont see many. its the most obvious bubble in history of mankind.
in oter bubbles at least people did not know it is a bubble untill it bursted, in this one everyone (besides the retailers and public) know.
the driving factor which makes some financial advisors (like Peter Thiel) go into bitcoin (and advertising for it in the very same moment when it shows a reversal pattern [preservation of his own capital by manipulating with his reputation and name- id say]) is FOMO
FOMO:
Fear of missing out.
nothing more.
You know how to know instantly that it is a bubble (besides all the other fundamental reasons)? when you sit in a bar and hear the table next to you, people you know have blue-colar jobs, talking about how they invested in bitcoin.
red light flashig everywhere in my mind.
i see an orgy of red lights in my mind. red doing it with red and pink on top of them, yellow standing aside and green light laying in the corner murdered with a broken beer bottle.