Check out why John McAfee says Bitcoin is not in a bubble and will keep going up:

He makes some great points, though rest assured there will be pullbacks along the way.

Remember that Amazon, Yahoo, Ebay, and even Google were all in a bubble, and look where they are today.

Just because something is in a bubble doesn't mean it is going to go away when it eventually pops, it just means prices may need to cool down and let fundamentals catch up before it can resume its upward momentum again.