What is the origin of the idiom "the bubble burst" and when to use it?

The origin of the phrase "the bubble burst" can be traced back to the financial world, particularly to economic bubbles. One of the earliest recorded financial bubbles was the Dutch tulip mania in the 17th century, where the price of tulip bulbs soared to extremely high levels before crashing, causing significant financial losses. This historical event likely contributed to the appearance of the phrase. It is used to describe the moment when any situation or expectation is shattered, leading to disappointment or disillusionment.