There are a lot of differences of opinion of whether and how much artificial credit expansion we'll see on bitcoin. You could think of scams like FTX as having done exactly the kind of thing that creates bubbles.

I do think the bubbles will be smaller on a bitcoin standard, but I think they'll still happen occasionally.

Undisciplined

So being on a bitcoin standard essentially eliminates bubbles because there is no artificial expansion of credit, which is required for bubbles to form. At least that's the Austrian view.

gnilma

econ

Why the Bubble Economy Isn't the Real Economy | Dusty Wunderlich

The Austrian view is that bubbles need an artificial expansion of credit to form. Any other types of mistakes will be distributed randomly over time, rather than occurring simultaneously.