We're likely getting close to the point of "maximum optimism" on bitcoin. From what I can tell, this would be the 2nd largest asset bubble (aside from the tulip bubble). All asset bubbles pop and end very badly. http://www.businessinsider.com/bitcoin-ethereum-cryptocurrency-trading-volumes-are-going-bananas-right-now-2017-12?nr_email_referer=1&utm_source=Sailthru&utm_medium=email&utm_content=ClosingBell&utm_campaign=Post%20Blast%20%28moneygame%29:%20STOCKS%20RISE:%20Here%E2%80%99s%20what%20you%20need%20to%20know&utm_term=Closing%20Bell%20-%20Engaged%2C%20Active%2C%20Passive%2C%20Disengaged
I assure you though its why institutions want there to be futures on it so they can essentially short it into its coming crash.
There are no put options on it. Soon there will be futures contracts on it that may act like a put or a short. GBTC which "sort of" tracks bitcoin is shortable but no puts. NOW, with that said...I'd not recommend shorting. Shorting has unlimited risks. A put, though, would be like a short with limited risk. So if there was a put on it, I'd be ok with that but there's not.
Can I buy "PUT" options on bitcoin in my Fidelity account?
Each quarter, the "big boys" in the market have to report their positions because they're so large. Once those reports are made public, it shows what stocks they're adding to or reducing their exposure in and what stocks they've recently bought or completely sold out of.