a very informative article on why and how asset bubbles are created >

FasterCapital
Asset Bubble: When Flowers Burst: The Story of the Tulip Asset Bubble - FasterCapital
In the 17th century, the Dutch Republic witnessed an unprecedented phenomenon that would later serve as a cautionary tale for investors for centuri...
when tulips were suddenly seen as the token for an asset that will eventually reach astronomical prices (at one point in history, these plants were priced more than houses!), the financial decision for holders of these tulips were very simple;
(one, usually the perspective of the clever speculator) : "...i know its a bubble, but 99% of the other fools are still rushing in, why not make hay while fools dance on tables...?"
(two, usually the perspecive of the emotional speculator) : ".....the system is rigged, injustice! tulips is the real deal! soon tulips will be so valuable that you can buy SHIPS with it bro!..."
(three, usually the perspective of the salesman) : ".....look at JUST the price charts, THIS, is the FUTURE. Forget everything else, forget the fundamentals of demand, THIS, is the REAL demand."
(four, usually the perspecive of the fool) : "...WOW, the saleman really knows this! look at all the returns everyone is making!!! WOW...."
Whales, will always need a salesman to play the piper so that fools will make that tulip valuable, the salesman, and a good one, will never tell the fool the entire both sides of a tulip story.
you see, the fool is a workhorse that must only look through a tunnel vision lens of absolute emotional rush of FOMO. once in a while, you are going to need a couple of really emotional people to bring the price of that tulip down, just so that the whale can buy the dip.
at the end of each and every bubble, the whales are the ones that got out early, the salesman too, of course, maybe some emotional lucky ones. for the ones standing on the table when the music stops, well, you did not miss out any second of it.
not everything is a tulip, some are real gems, if you can connect the dots. but if you love the sales talk experience, go for it.