I disagree.

Let's take the American real estate bubble. According to Wikipedia:

"Total home equity in the United States, which was valued at $13 trillion at its peak in 2006, had dropped to $8.8 trillion by mid-2008 and was still falling in late 2008."

Two years, a 5 trillion dollar haircut.

The Bitcoin Bubble? For an asset that taps into capital markets across the entire globe, $86B is adorably small.

IMO, the bubble is still inflating and there is a long way to go, yet. To me, the real test will be when the next major worldwide recession sets in...