Allan Kohler, the respected Editor At Large of The Australian Business review asked the question in an article published on the 22nd of May and came to the conclusion that he couldn't decide ! So we thought we would have a stab at the same question.
Wikipedia describes "An economic bubble or asset bubble (sometimes also referred to as a speculative bubble, a market bubble, a price bubble, a financial bubble, a speculative mania, or a balloon) is trade in an asset at a price or price range that strongly exceeds the asset's intrinsic value.". With the price of Bitcoin having more than doubled in a matter of months, and other crypto assets increasing much more strongly, it is with confidence that we can conclude that speculative mania has taken hold in the crypto asset markets. However what is not so clear is wether the value of Bitcoin exceeds its' intrinsic value.