Comment by Cheer2171

Like in 1929 or 1999 everyone knows it is a bubble, but always thinks they're the rational one who can ride the rollercoaster up and time the bubble, then sell before it pops.

It is the same psychology behind meme coins. Everyone knows they are worthless, they gain value because everyone is trying to make everyone else the greater fool holding the bag.

2008 was less a bubble of irrational exhuberance and more a bubble of overvaluation enabled by fraud of bundling bad mortgages into A rated investment products