Bubbles have always periodically happened because of the madness of crowds. It’s human nature.
Back in the 1920’s RCA was the “pet stock”. It was the Apple or Tesla that just simply could do no wrong. However, all bubbles pop. Also notice that Elliott Waves worked way back then too. Why? They measure the stages of a trend because what they’re really measuring is the psychology of the investor at each stage of the uptrend or downtrend.