Heat olive oil in a large skillet over medium heat. Add the diced potatoes, seasoning them with salt, pepper, paprika, and garlic powder. Cook until the potatoes are golden and crispy, about 10-15 minutes, stirring occasionally.
In another pan, cook the chopped bacon over medium heat until crisp. Remove the bacon and set it aside, leaving the bacon grease in the pan. In the same pan used for bacon, sauté the diced onion and bell pepper until soft and slightly caramelized, about 5-7 minutes.
Pour the beaten eggs over the sautéed onions and peppers, scrambling them together until the eggs are just set.
Assemble the breakfast bowls: Start with a base of crispy potatoes, then layer on the scrambled eggs with onions and peppers, and top with crispy bacon and shredded cheese. Garnish each bowl with sliced avocado and your choice of optional toppings. Serve hot.