What I find inconsistent with these projections when compared to the previous cycles is that the 2017 ATH was roughly a 20x of the last one (1k), but the next one wasn't even 4x.
Because basically when a Bitcoin marketcap is bigger, it is harder to have 20x growth for a single cycle like previous cycles. It is exactly what happened with Bitcoin in 2020 - 2021 bull run and its future bull runs including 2024 and 2025 bull run. We have take into account the unprecedented accidents like Covid-19 and global financial recession too.
This means that the ATH to ATH growth was reduced by 80% cycle to cycle. What if the next one is again reduced by 80% and we only get something like 1x the ATH, or even less, so less than $140k?
If this continues, at some point we'll only be reaching a new ATH without any large growth, so one year it will be 140k and in 4 years 180k, in 4 years 200k...
So from price like under $30,000 to $140,000, assumes it is a new all time high for 2024 - 2025 bull run, it is not good enough? I know it sounds not good if we consider it from 2021 all time high circa $70,000 but if we consider it from today price, it's very good profit.
$200,000 in 2028 or 2029, it is about 7x from today price, is it good? Absolutely good, I don't expect more profit from 8 years of holding.