How much does a Bubble make?

I'm curious, could you please clarify something for me? The concept of a bubble in the cryptocurrency and financial world is often talked about, but it's somewhat ambiguous. Could you elaborate on what exactly constitutes a bubble, and how does one measure its size or worth? Is it simply a matter of evaluating market capitalization or are there other factors at play? Also, when we talk about the bursting of a bubble, how does that typically occur, and what are the potential consequences? I'm interested in understanding this complex phenomenon from a professional's perspective.