I simply love this short video that explains the Tulip Mania - widely considered the first economic bubble in recorded history. You will observe that every economic bubble follows a similar pattern.
As you will observe from the chart below, it is the kind of money following that particular entity at different stages - that can help you figure out a bubble. This is where fundamental analysis comes into picture and return to the mean.
You have to carefully identify which stage you should participate in and you will reap the benefits/consequences accordingly.