Depending on how one defines a “price bubble”, computers might well produce price bubbles: because learning algorithms tend to overweight the recent past, and tend to overweight apparent patterning. So these computers might well be programmed this way: if prices have gone up recently, they will likely continue to go up. And so too, if prices have gone down they will likely continue to go down.
It would be trivially possible to design a computer that would not produce price bubbles: have it behave randomly. (Well, there would still be volatility anyhow, but it would occur as random chance, and I wouldn’t term such occurrences true “price bubbles”).